Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Academir Charter Schools, Inc. D/B/A Academir Charter School of Math And Science (the “Charter School”) 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 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 federal award expenditures of the Charter School, it is not intended to and does not present the financial position, fund balances, changes in net position, changes in fund balances of the Charter School.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. The amounts reported as Federal expenditures were obtained from the Federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the school’s financial reporting system. The Federal expenditures are recognized under the Uniform Guidance.
The Charter school has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.