Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant and contract activity of America’s Charter School Finance Corporation (the Organization) and is presented on the accrual basis of accounting which conforms to accounting principles generally accepted in the United States of America and is consistent with the Organization’s basic financial statements. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
At December 31, 2025, the Organization holds cash and cash equivalents, restricted cash and cash equivalents, investments, and restricted investments funded by the federal government (Credit Enhancement for Charter School Facilities Program – Assistance Listing Number (ALN) #84.354A). These funds are held under the terms of a federal grant and can be used both for program costs and to pay claims under the Organization’s guarantees. The following schedule provides an accounting for the changes in the reserve account: See the Notes to the SEFA for chart/table