Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Crescent Academy 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 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 Crescent Academy, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Crescent Academy.
Federal expenditures reported on the Schedule are equal to federal grant revenue reported on the financial statements.
Management has reported the expenditures in the Schedule equal to those amounts reported in the annual or final cost reports that have been submitted for that particular grant year. The federal amounts reported on the Grant Auditor Report (GAR) and on the Recipient Entitlement Balance Report (PAL Report) were in agreement with the Schedule.
No amounts were provided to subrecipients.