Notes to SEFA
Title: NOTE A 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 Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Ohio Virtual Academy (the Academy) under programs of the federal government for the year ended June 30, 2022. The information on this Schedule is prepared 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 Academy, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Academy.
Title: NOTE D SCHOOLWIDE POOL
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 Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Academy consolidated certain federal, state and local funds into a Schoolwide Pool during fiscal year 2022. The amounts allocated from these funds and transferred to the Schoolwide Pool are as follows:FundAssistance ListingAllocated AmountGeneral FundN/A $77,991,720 Title I Grants to Local Educational Agencies84.010A 6,264,944 Special Education_Grants to States84.027A 3,952,590 Special Education_Preshcool Grants84.173A 11,762 Title III English Language Acquisition Grants84.365A 29,296 Title II-A Improving Teacher Quality84.367A 924,630 Title IV-A Student Support and Academic Engrichment Grants84.424A 354,011