Notes to SEFA
Title: Note C - Non-Cash USDA Food Commodities
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Villages Charter School, Inc., 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal
Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Villages Charter School received a nefotiated cost rate for federal awards.
During the year, The Villages Charter School, Inc. received food commodities valued at $214,929 and is shown in the Schedule of Federal Awards within the National School Lunch Program AL# 10.555.