Notes to SEFA
The Schedule of Expenditures of Federal Awards includes the federal grant activity of the Furlow Charter School (the “School”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (“CFR”) Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
The School elected not to use the 10% de minimis cost rate for the year ended June 30, 2025.
The School did not pass through any funds to subrecipients in the year ended June 30, 2025.
During the year ended June 30, 2025, $44,868 was transferred from the Title IV – Part A Student Support and Academic Enrichment program, and $47,104 was transferred from the Title II – A Improving Teacher Quality program to the Title I, Grants to Local Educational Agencies program. Expenditures of transfers are reflected within receiving program.