Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Roy Maas’ Youth Alternatives, Inc. and its affiliates have 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 includes the federal grant activity of Roy Maas’ Youth Alternatives, Inc. and its affiliates and is presented on the accrual basis of accounting. The information in this 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 Roy Maas’ Youth Alternatives, Inc. and its affiliates, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Roy Maas’ Youth Alternatives, Inc. and its affiliates.
Title: NOTE 3 - NONCASH ASSISTANCE – FOOD DONATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Roy Maas’ Youth Alternatives, Inc. and its affiliates have elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Commodities represent the amount of donated food received during the 2022-2023 fiscal year. Commodities are valued at fair value, which was determined at the time of donation to be $6,547.
Title: NOTE 4 - NON-PROFIT CHARTER SCHOOL CHART OF ACCOUNTS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Roy Maas’ Youth Alternatives, Inc. and its affiliates have elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
For all federal programs, Meadowland Charter District used the net asset classes and codes specified by Texas Education Agency (TEA) in the Special Supplement to Financial Accounting and Reporting, Non-Profit Charter School Chart of Accounts. Temporarily restricted net asset codes are used to account for resources restricted to or designated for specific purposes by the grantor. Federal financial assistance is generally accounted for in temporarily restricted net asset codes.
Title: NOTE 5 - OTHER DISCLOSURES
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Roy Maas’ Youth Alternatives, Inc. and its affiliates have elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
There were no loans or loan guarantees outstanding at year end. Roy Maas’ Youth Alternatives, Inc. and its affiliates have elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. Roy Maas’ Youth Alternatives, Inc. and its affiliates did not pass any federal awards through to subrecipients for the year ended June 30, 2023.