Notes to SEFA
Accounting Policies: THE ACCOMPANYING SCHEDULES OF EXPENDITURES OF FEDERAL AWARDS AND STATE FINANCIAL ASSISTANCE ARE PRESENTED ON THE BUDGETARY BASIS OF ACCOUNTING WITH THE EXCEPTION OF PROGRAMS RECORDED IN THE FOOD SERVICE FUNDS, WHICH ARE PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING. THESE BASES OF ACCOUNTING ARE DESCRIBED IN NOTES 1(D) AND 1(E) TO THE BOARD'S BASIC FINANCIAL STATEMENTS. THE INFORMATION IN THESE SCHEDULES IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF 2 CFR 200-UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENT FOR FEDERAL AWARDS. THEREFORE, SOME AMOUNTS PRESENTED IN THIS SCHEDULE MAY DIFFER IN AMOUNTS PRESENTED IN OR USED IN THE PREPARATION OF THE BASIC FINANCIAL STATEMENTS.
De Minimis Rate Used: N
Rate Explanation: the auditee did not use the de minimis cost rate.