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      <PayrollTaxesGrp>
        <TotalAmt>196748</TotalAmt>
        <ProgramServicesAmt>173138</ProgramServicesAmt>
        <ManagementAndGeneralAmt>23610</ManagementAndGeneralAmt>
      </PayrollTaxesGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>4173</TotalAmt>
        <ManagementAndGeneralAmt>4173</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>231000</TotalAmt>
        <ManagementAndGeneralAmt>231000</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>325583</TotalAmt>
        <ProgramServicesAmt>321513</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4070</ManagementAndGeneralAmt>
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      <AdvertisingGrp>
        <TotalAmt>1783</TotalAmt>
        <ProgramServicesAmt>1605</ProgramServicesAmt>
        <ManagementAndGeneralAmt>178</ManagementAndGeneralAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>323863</TotalAmt>
        <ProgramServicesAmt>194318</ProgramServicesAmt>
        <ManagementAndGeneralAmt>129545</ManagementAndGeneralAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
        <TotalAmt>152094</TotalAmt>
        <ProgramServicesAmt>129280</ProgramServicesAmt>
        <ManagementAndGeneralAmt>22814</ManagementAndGeneralAmt>
      </InformationTechnologyGrp>
      <OccupancyGrp>
        <TotalAmt>344268</TotalAmt>
        <ProgramServicesAmt>172134</ProgramServicesAmt>
        <ManagementAndGeneralAmt>172134</ManagementAndGeneralAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>8757</TotalAmt>
        <ManagementAndGeneralAmt>8757</ManagementAndGeneralAmt>
      </TravelGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>95428</TotalAmt>
        <ProgramServicesAmt>85885</ProgramServicesAmt>
        <ManagementAndGeneralAmt>9543</ManagementAndGeneralAmt>
      </ConferencesMeetingsGrp>
      <InterestGrp>
        <TotalAmt>1136494</TotalAmt>
        <ManagementAndGeneralAmt>1136494</ManagementAndGeneralAmt>
      </InterestGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>520968</TotalAmt>
        <ProgramServicesAmt>260484</ProgramServicesAmt>
        <ManagementAndGeneralAmt>260484</ManagementAndGeneralAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>105123</TotalAmt>
        <ProgramServicesAmt>84098</ProgramServicesAmt>
        <ManagementAndGeneralAmt>21025</ManagementAndGeneralAmt>
      </InsuranceGrp>
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        <Desc>DUES &amp; FEES</Desc>
        <TotalAmt>59816</TotalAmt>
        <ProgramServicesAmt>14954</ProgramServicesAmt>
        <ManagementAndGeneralAmt>44862</ManagementAndGeneralAmt>
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      <OtherExpensesGrp>
        <Desc>TEXTBOOKS &amp; BOOKS</Desc>
        <TotalAmt>45585</TotalAmt>
        <ProgramServicesAmt>45585</ProgramServicesAmt>
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      <OtherExpensesGrp>
        <Desc>AMORTIZATION OF PREMIUM</Desc>
        <TotalAmt>-8547</TotalAmt>
        <ManagementAndGeneralAmt>-8547</ManagementAndGeneralAmt>
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      <TotalFunctionalExpensesGrp>
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        <ProgramServicesAmt>7632978</ProgramServicesAmt>
        <ManagementAndGeneralAmt>2868922</ManagementAndGeneralAmt>
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        <EOYAmt>15328918</EOYAmt>
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        <EOYAmt>203991</EOYAmt>
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      <AccountsReceivableGrp>
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        <EOYAmt>18318373</EOYAmt>
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        <EOYAmt>4626844</EOYAmt>
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        <EOYAmt>22315000</EOYAmt>
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      <OtherLiabilitiesGrp>
        <BOYAmt>8240367</BOYAmt>
        <EOYAmt>10097904</EOYAmt>
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      <TotalLiabilitiesGrp>
        <BOYAmt>31894394</BOYAmt>
        <EOYAmt>33504415</EOYAmt>
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        <BOYAmt>0</BOYAmt>
        <EOYAmt>0</EOYAmt>
      </CapStkTrPrinCurrentFundsGrp>
      <PdInCapSrplsLandBldgEqpFundGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>0</EOYAmt>
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        <BOYAmt>3756289</BOYAmt>
        <EOYAmt>5039112</EOYAmt>
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      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>3756289</BOYAmt>
        <EOYAmt>5039112</EOYAmt>
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      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>35650683</BOYAmt>
        <EOYAmt>38543527</EOYAmt>
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      <InfoInScheduleOPartXIInd>X</InfoInScheduleOPartXIInd>
      <ReconcilationRevenueExpnssAmt>1756563</ReconcilationRevenueExpnssAmt>
      <OtherChangesInNetAssetsAmt>-473740</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <SchoolInd>X</SchoolInd>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
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        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
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    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <LandGrp>
        <OtherCostOrOtherBasisAmt>2275000</OtherCostOrOtherBasisAmt>
        <BookValueAmt>2275000</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>18080746</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>2188978</DepreciationAmt>
        <BookValueAmt>15891768</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>448364</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>296759</DepreciationAmt>
        <BookValueAmt>151605</BookValueAmt>
      </EquipmentGrp>
      <TotalBookValueLandBuildingsAmt>18318373</TotalBookValueLandBuildingsAmt>
      <OtherAssetsOrgGrp>
        <Desc>RIGHT TO USE LEASE LIABILITY</Desc>
        <BookValueAmt>29247</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>DEFERRED PENSION CONTRIBUTION</Desc>
        <BookValueAmt>4597597</BookValueAmt>
      </OtherAssetsOrgGrp>
      <TotalBookValueOtherAssetsAmt>4626844</TotalBookValueOtherAssetsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>NET PENSION LIABILITY</Desc>
        <Amt>8882976</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>DEFERRED INFLOWS-PENSION</Desc>
        <Amt>922477</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>RIGHT TO USE LEASE LIABILITY</Desc>
        <Amt>31753</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>PREMIUM ON ISSUANCE OF BONDS, NET</Desc>
        <Amt>260698</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>10097904</TotalLiabilityAmt>
      <TotalRevEtcAuditedFinclStmtAmt>12474609</TotalRevEtcAuditedFinclStmtAmt>
      <OtherRevenueAmt>216146</OtherRevenueAmt>
      <RevenueNotReportedAmt>216146</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>12258463</RevenueSubtotalAmt>
      <RevenueNotReportedFinclStmtAmt>0</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>12258463</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>10501900</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesNotReportedAmt>0</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>10501900</ExpensesSubtotalAmt>
      <ExpensesNotRptFinclStmtAmt>0</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>10501900</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>FUNDRAISING ACTIVITY DIRECT EXPENSES NETTED AGAINST RELATED REVENUE</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 2D</FormAndLineReferenceDesc>
        <ExplanationTxt>DIRECT STUDENT ACTIVITY/FUNDRAISING EVENT EXPENSES OF $216,146 ARE REPORTED ON FORM 990, PART VIII, LINE 8B AND NETTED AGAINST RELATED GROSS REVENUE. THESE AMOUNTS ARE EXCLUDED FROM PART IX FUNCTIONAL EXPENSES. THE AUDITED FINANCIAL STATEMENTS REPORT TOTAL EXPENDITURES OF $10,501,900, WHICH AGREES TO FORM 990, PART IX.</ExplanationTxt>
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      <PolicyStmtInBrochuresEtcInd>1</PolicyStmtInBrochuresEtcInd>
      <PlcyPblczdViaBroadcastMediaInd>1</PlcyPblczdViaBroadcastMediaInd>
      <MaintainRacialCompRecsInd>1</MaintainRacialCompRecsInd>
      <MaintainScholarshipsRecsInd>1</MaintainScholarshipsRecsInd>
      <MaintainCpyOfBrochuresEtcInd>1</MaintainCpyOfBrochuresEtcInd>
      <MaintainCpyOfAllSolInd>1</MaintainCpyOfAllSolInd>
      <DiscriminateRaceStdntsRghtsInd>0</DiscriminateRaceStdntsRghtsInd>
      <DiscriminateRaceAdmissPlcyInd>0</DiscriminateRaceAdmissPlcyInd>
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      <DiscriminateRaceSchsInd>0</DiscriminateRaceSchsInd>
      <DiscriminateRaceEducPlcyInd>0</DiscriminateRaceEducPlcyInd>
      <DiscriminateRaceUseOfFcltsInd>0</DiscriminateRaceUseOfFcltsInd>
      <DiscriminateRaceAthltProgInd>0</DiscriminateRaceAthltProgInd>
      <DiscriminateRaceOtherActyInd>0</DiscriminateRaceOtherActyInd>
      <GovernmentFinancialAidRcvdInd>1</GovernmentFinancialAidRcvdInd>
      <GovernmentFinancialAidRvkdInd>0</GovernmentFinancialAidRvkdInd>
      <ComplianceWithRevProc7550Ind>1</ComplianceWithRevProc7550Ind>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, PART I, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>FREEDOM CLASSICAL ACADEMY INC HAS RECEIVED FEDERAL GRANTS AND FUNDS FROM NEVADA DEPARTMENT OF EDUCATION, SPCSA PASSTHROUGH FOR FEDERAL FUND, AND US DEPARTMENT OF AGRICULTURE.</ExplanationTxt>
      </SupplementalInformationDetail>
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        <Event1Nm>SPORTS</Event1Nm>
        <GrossReceiptsEvent1Amt>197224</GrossReceiptsEvent1Amt>
        <GrossRevenueEvent1Amt>197224</GrossRevenueEvent1Amt>
        <OtherDirectExpensesEvent1Amt>216146</OtherDirectExpensesEvent1Amt>
        <GrossReceiptsTotalAmt>197224</GrossReceiptsTotalAmt>
        <GrossRevenueTotalEventsAmt>197224</GrossRevenueTotalEventsAmt>
        <OthDirectExpnssTotalEventsAmt>216146</OthDirectExpnssTotalEventsAmt>
        <DirectExpenseSummaryEventsAmt>216146</DirectExpenseSummaryEventsAmt>
        <NetIncomeSummaryAmt>-18922</NetIncomeSummaryAmt>
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      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
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      <AnyNonFixedPaymentsInd>0</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JEREMY CHRISTENSEN</PersonNm>
        <TitleTxt>EXECUTIVE DIRECTOR</TitleTxt>
        <BaseCompensationFilingOrgAmt>190449</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>62963</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>25054</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>278466</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>PUBLIC FINANCE AUTHORITY</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>453798687</BondIssuerEIN>
        <CUSIPNum>774396FZ0</CUSIPNum>
        <BondIssuedDt>2020-10-06</BondIssuedDt>
        <IssuePriceAmt>21909161</IssuePriceAmt>
        <PurposeDesc>PURCHASE OF SCHOOL BUILDING AND CAMPUS FACILITIES.</PurposeDesc>
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        <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
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        <IssuanceCostsFromProceedsAmt>432199</IssuanceCostsFromProceedsAmt>
        <CapitalExpendituresAmt>20138525</CapitalExpendituresAmt>
        <OtherSpentProceedsAmt>169</OtherSpentProceedsAmt>
        <SubstantialCompletionYr>2020</SubstantialCompletionYr>
        <RefundingTaxExemptBondsInd>0</RefundingTaxExemptBondsInd>
        <RefundingTaxableBondsInd>0</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsPrivateBusUseGrp>
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        <OwningBondFinancedPropertyInd>0</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>1</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>1</MgmtContractBondFincdPropInd>
        <EngageBondCounselContractsInd>0</EngageBondCounselContractsInd>
        <AnyResearchAgreementsInd>0</AnyResearchAgreementsInd>
        <PrivateBusUseByOthersPct>0.04300</PrivateBusUseByOthersPct>
        <PrivateBusConcerningUBIPct>0.00000</PrivateBusConcerningUBIPct>
        <TotalPrivateBusinessUsePct>0.04300</TotalPrivateBusinessUsePct>
        <BondIssMeetPrvtSecPymtTestInd>0</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>0</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>1</ProcsNonqualifiedBondRemdtdInd>
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        <RebateNotDueYetInd>1</RebateNotDueYetInd>
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        <ProceduresCorrectiveActionInd>1</ProceduresCorrectiveActionInd>
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      <SupplementalInformationDetail>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD MEMBERS GET A COMPLETE COPY OF FORM 990 AND THE EXECUTIVE DIRECTOR SIGNS THE RETURN.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE CONFLICT OF INTEREST POLICY REQUIRES OFFICERS AND KEY EMPLOYEES TO REGULARLY DISCLOSE INTEREST THAT COULD GIVE RISE TO CONFLICTS. THE POLICY IS MONITORED ANNUALLY AND CONSISTENTLY BY THE GOVERNING BODY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>SELECTION OF THE EXECUTIVE DIRECTOR AND HIS COMPENSATION MUST BE APPROVED BY THE BOARD OF DIRECTORS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9:</FormAndLineReferenceDesc>
        <ExplanationTxt>GASB 68 PENSION ADJUSTMENT -473,740.</ExplanationTxt>
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  </ReturnData>
</Return>