Audit 7322

Title: BASIS OF PRESENTATION Accounting Policies: All Federal grant operations of the Academy of Hope Adult Charter School (the School) are included in the scope of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Single Audit). The Single Audit was performed in accordance with the provisions of the U.S. Office of Management and Budget (OMB) Compliance Supplement (the Compliance Supplement). Compliance testing of all requirements, as described in the Compliance Supplement, was performed for the major grant program noted below. The programs on the schedule of expenditures of Federal awards (the Schedule) represent all Federal award programs with fiscal year 2023, cash or non-cash expenditure activities. For single audit testing, we tested to ensure coverage of at least 20% of Federally granted funds. Actual coverage is 80%. The major program tested are listed below. De Minimis Rate Used: N Rate Explanation: The School has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The School has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.