Notes to SEFA
The Schedule of Expenditures of Federal Awards is prepared on the regulatory basis of accounting prescribed by Arkansas Code Annotated §10-4-413(c), as set forth in the Arkansas Department of Education Rules Governing the Regulatory Basis of Accounting.
The Charter School's restricted indirect cost rate was 3.75% for federal awards, where applicable.
Reconciliation of the Schedule of Expenditures and Federal Awards to the Federal Assistance on the Statement of Revenues, Expenditures, and Fund Balances. Total Expenditures of Federal Awards as presented on the SEFA $ 1,805,288 Federal Funds received in a PY but spent in CY COVID-19 Supply Chain Assistance 2024 10.555 (6,821) Teacher School Leader Incentive Program 84.374B (16,053) Federal Funds received in a CY but not spent in CY 10.555 Title I, Part A - Regular Comp Education 84.010 17,740 IDEA - Part B, Formula 84.027 333 Title IV, Part A, Subpart I 84.424A 287 Federal Assistance on Statement of Revenues, Expenditures, and Changes in Fund Balance $ 1,800,773