Notes to SEFA
The schedule of expenditures of federal awards includes the federal grant activity of the Outreach Community Development Corporation d/b/a J.S. Clark Leadership Academy (the 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 OMB 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 the Academy, it is not intended to and does not present the financial position or changes in net assets of the Academy.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports except for changes made to reflect amounts in accordance with accounting principles generally accepted in the United States of America.
The Academy did not use the de minimis indirect cost rate allowed under the Uniform Guidance. Instead, an indirect cost rate of 8.3470% was applied, which is less than the maximum allowed under the award terms.
There were no awards passed through to subrecipients.