The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Lehigh Valley Academy Regional Charter School under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Lehigh Valley Academy Regional Charter School, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lehigh Valley Academy Regional Charter School.
The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basis of accounting for all federal awards charged to governmental funds and on the accrual basis of accounting for all federal awards charged to proprietary funds, as contemplated by accounting principles, generally accepted in the United States of America.
The School recognized 53.7% of its total general fund revenue in federal awards, and 87.6% of its total enterprise fund revenue.
The School did not charge any indirect costs to any of their federal grants and programs during this fiscal year. As such, the School did not use the 10% de minimis cost rate.
(1.) The federal awards passed through the Colonial Intermediate Unit #20 under the U.S. Department of Education heading, is part of a consortium of participating Schools. In accordance with directions from the Commonwealth of Pennsylvania, these awards are reported on the basic financial statements as local source revenue. (2.) The Federal Grants were passed through the following entities in the totals below: "SEE NOTES TO SEFA FOR CHART/TABLE". (3.) The District received non-monetary assistance from U.S. Department of Agriculture of Agriculture of $78,307, in the form of commodities. These commodities are valued at U.S.D.A’s approximate costs. During the 2024-25 fiscal year, the District used $4,216 in commodities and established a year-end inventory of $78,307 at June 30, 2025. (4.) Of the $47,050 of expenditures reported for the COVID-19 Coronavirus State and Local Fiscal Recovery Funds, $47,050 were incurred in the prior fiscal year. This grant was reported as a state subsidy in the prior year and was left off the SEFA due to this error. To correct this in 2024-25, the opening accrual of $19,223 was added to the SEFA. (5.) As allowed by federal regulations, the Lehigh Valley Academy Regional Charter School elected to transfer program funds. The District expended $79,576 from it’s Title II, Part A Supporting Effective Instruction (84.367), and $55,561 from it’s Title IV, Part A Student Support and Academic Enrichment (84.424) on allowable activities of the Title I. Part A Improving Basic Programs (84.010). These amounts are reflected in the expenditures of the Title I, Part A Improving Basic Programs (84.010). (6.) All ARP ESSER Set-Aside funds were fully expended in the 2024-25 fiscal year. PDE confirmed that any remaining Afterschool Set-Aside funds may be used for Learning Loss or Summer School activities. Revenue and expenditures are reported in the functional categories where the costs occur and are included under Learning Loss and Summer School on the SEFA. "SEE NOTES TO THE SEFA FOR CHART/TABLE".