Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes federal award activity ofFocus, Inc. dba Ambassadors Preparatory Academy under programs of the federal government for the year endedAugust 31, 2022. 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 AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion ofthe operation of Focus, Inc. dba Ambassadors Preparatory Academy, it is not intended to and does not present thefinancial position, changes in net assets, or cash flows of Focus, Inc. dba Ambassadors Preparatory Academy.Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule representadjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.Pass-through entity identifying numbers are presented where available.Indirect Cost
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.