Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Patriot Preparatory Academy, Franklin County, Ohio (the Academy) under programs of the federal government for the year ended June 30, 2025. The information on this Schedule is prepared 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 the Academy, it is not intended to and does not present the financial position or changes in net position of the Academy.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
The Academy has elected not to use the 10-percent (or 15-percent, if applicable) de minimis indirect cost rate as allowed under the Uniform Guidance.
The Academy commingles cash receipts from the US Department of Agriculture with similar State grants. When reporting expenditures on the Schedule, the Academy assumes it expends federal monies first.
The Academy reports commodities consumed on the Schedule at the entitlement value. The Academy allocated donated food commodities to the respective program that benefited from the use of those donated food commodities.
Federal regulations require schools to obligate certain federal awards by June 30. However, with the Ohio Department of Education and Workforce's consent, schools can transfer unobligated amounts to the subsequent fiscal year's program. The Academy transferred the following amounts from 2025 to 2026 programs:
During fiscal year 2025, the Acadmey made allowable transfers of $41,110 from Supporting Effective Instruction State Grant (Title II-A)(AL #84.367A) program to Student Support and Academic Enrichment Program (Title IV-A) (AL #84.424A). The Schedule shows the Academy spend approximately $30,267 on the Title II-A program. The amount reported for the Title II-A program on the Schedule excludes the amount transferred to Title IV-A. The amount transferred to the Title IV-A program is included as Title IV-A expenditures when disbursed. The following table shows the gross amount drawn for Title II-A program during fiscal year 2025 and the amount transferred to the Student Support and Academic Enrichment Progam.