Notes to SEFA
Title: Transfers Between Program Years
Accounting Policies: Expenditures reported on the Schedule are reported on the cash 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.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The School generally must spend Federal assistance within 15 months of receipt. However, with Ohio Department of Education (ODE) approval, a School can transfer (carryover) unspent Federal assistance to the succeeding year, thus allowing the School a total of 27 months to spend the assistance. During fiscal year 2022, the ODE authorized the following transfers: ALN Number / Grant Title"GrantYear""TransferOut""TransferIn"84.010A Title I Grants to Local Educational Agencies2021 $24,418 84.010A Title I Grants to Local Educational Agencies2022 $24,418 84.010A Title I - Expanding Opportunities2021 3,822 84.010A Title I - Expanding Opportunities2022 3,822 84.010A Title 1 - School Quality Improvement2021 856 84.010A Title 1 - School Quality Improvement2022 856 84.367 Title II-A Improving Teacher Quality2021 4,173 84.367A Title II-A Improving Teacher Quality2022 4,173 84.424A Title IV-A Student Support and Academic Enrichment2021 26,075 84.424A Title IV-A Student Support and Academic Enrichment2022 26,075 84.027A Special Education Grants to States (IDEA, Part B) 2021 34,091 84.027A Special Education Grants to States (IDEA, Part B) 2022 34,091 84.425D Education Stabilization Fund - ESSER2021 52,401 84.425D Education Stabilization Fund - ESSER2022 52,401 $145,836 $145,836
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the cash 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.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Summit Academy Secondary School - Youngstown (School) under programs of the federal government for the year ended June 30, 2022. 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 a selected portion of the operations of the School, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School.
Title: Child Nutrition Cluster
Accounting Policies: Expenditures reported on the Schedule are reported on the cash 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.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The School commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When reporting expenditures on this Schedule, the School assumes it expends federal monies first.