Notes to SEFA
This schedule presents information on the amount of instructional time offered by ICEF and whether or not ICEF complied with the provisions of California Education Code.
Average daily attendance is a measurement of the number of pupils attending classes ICEF. The purpose of attendance accounting from a fiscal standpoint is to provide the basis on which apportionments of state funds are made to charter schools. This schedule provides information regarding the attendance of students at various grade levels.
This schedule provides the information necessary to reconcile the net assets of the charter schools as reported on the Annual Financial Report form to the audited consolidated financial statements.
This schedule includes the federal award activity of ICEF under programs of the federal governmental for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because this schedule presents only a selected portion of operations of ICEF, it is not intended to and does not present the financial position, changes in net assets, or cash flows of ICEF. 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.
The supplementary consolidating statements of financial position, activities, and cash flows are presented as required by the state.