Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs of Odyssey Charter Schools of Nevada (the Schools). 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements. The accompanying Schedule is presented using the accrual basis of accounting, which is described in Note 2 to the financial statements of the Odyssey Charter Schools of Nevada.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.