Notes to SEFA
Title: Nonmonetary Assistance
Accounting Policies: Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. The accounts of the District are maintained, and the accompanying financial statements have been prepared on the modified cash basis of accounting. Therefore, revenues and expenditures are recognized only when collected or paid, and receivables and liabilities are not reflected in the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District elected to not use the 10% de minimis indirect cost rate. The Missouri Department of Elementary and Secondary Education has approved the following indirect cost rates for the District: Non-restricted 21.89% and Restricted 2.94%. The indirect cost rates are calculated annually by the Missouri Department of Elementary and Secondary Education and the U.S. Department of Education.
The District receives commodities under the Food Distribution Program. The amount of expenditures included on the Schedule of Expenditures of Federal Awards represent donated commodities used, which totaled $38,657 valued at the cost assigned to those commodities by the Food Service Section of the Department of Elementary and Secondary Education. The District receives federal surplus property under the Surplus Property Program. Property distributions to the District totaled $349, valued at 23.3% of the historical cost as assigned by the federal government, which is substantially in excess of the property's fair market value at the time of distribution as determined by the General Services Administration.
Title: Schoolwide Pool Funding
Accounting Policies: Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. The accounts of the District are maintained, and the accompanying financial statements have been prepared on the modified cash basis of accounting. Therefore, revenues and expenditures are recognized only when collected or paid, and receivables and liabilities are not reflected in the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District elected to not use the 10% de minimis indirect cost rate. The Missouri Department of Elementary and Secondary Education has approved the following indirect cost rates for the District: Non-restricted 21.89% and Restricted 2.94%. The indirect cost rates are calculated annually by the Missouri Department of Elementary and Secondary Education and the U.S. Department of Education.
The District operates a schoolwide program in three K-8 buildings. Using federal funds, schoolwide programs are designed to upgrade an entire educational program within a school for all students, rather than limit services to certain targeted students. The following federal program amounts were expended by the District through its schoolwide pool funding: Title I (84.010) $262,861; Title IV.A (84.424) $20,750; and Title II.A (84.367) $42,111.
Title: Subrecipients
Accounting Policies: Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. The accounts of the District are maintained, and the accompanying financial statements have been prepared on the modified cash basis of accounting. Therefore, revenues and expenditures are recognized only when collected or paid, and receivables and liabilities are not reflected in the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District elected to not use the 10% de minimis indirect cost rate. The Missouri Department of Elementary and Secondary Education has approved the following indirect cost rates for the District: Non-restricted 21.89% and Restricted 2.94%. The indirect cost rates are calculated annually by the Missouri Department of Elementary and Secondary Education and the U.S. Department of Education.
The District did not provide funds to subrecipients in the current year.