Notes to SEFA
Title: CHILD NUTRITION CLUSTER:
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Technological College Preparatory World Academy under programs of the federal government for the fiscal year ended June 30, 2022 and is prepared in accordance with the cash basis of accounting. 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 Technological College Preparatory World Academy, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Technological College Preparatory World Academy. Such expenditures are recognized following cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be limited to as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The Technological College Preparatory World Academy has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Technological College Preparatory World Academy commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When reporting expenditures on this Schedule, the Technological College Preparatory World Academy assumes it expends federal monies first.
Title: FOOD DONATION PROGRAM:
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Technological College Preparatory World Academy under programs of the federal government for the fiscal year ended June 30, 2022 and is prepared in accordance with the cash basis of accounting. 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 Technological College Preparatory World Academy, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Technological College Preparatory World Academy. Such expenditures are recognized following cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be limited to as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The Technological College Preparatory World Academy has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Technological College Preparatory World Academy reports commodities consumed on the Schedule at the entitlement value. The Technological College Preparatory World Academy allocated donated food commodities to the respective program that benefitted from the use of those donated food commodities.