Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the Federal grant activity of Manara Academy (“the School”) and is presented on the accrual basis of accounting. The information in the 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 operation of the School, it is not intended to and does not present the financial position, changes in net assets, and cash flows of the School.
Federal grants received by the School are subject to review and audit by grantor agencies. The School’s management believes that the results of such audits will not have a material effect on the Schedule.
The School does not participate with any subrecipient organizations for the administration or performance of its federal programs.
Total expenditures of federal awards per the Schedule of Expenditures of Federal Awards $ 956,391 eRate revenue 47,590 Total federal program revenues per the Statement of Activities $ 1,003,981
The School has elected not to use the 10% de minimis indirect cost rate allowed under uniform guidance.