Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: SEE FORM
De Minimis Rate Used: N
Rate Explanation: The District has no indirect cost in the federal programs.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Kennard Independent School District and is presented on the modified accrual basis of accounting. The information in this schedule is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in the general purpose financial statements.
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: SEE FORM
De Minimis Rate Used: N
Rate Explanation: The District has no indirect cost in the federal programs.
Federal programs are reported in the District's fund financial statements.
Title: OTHER NOTES
Accounting Policies: SEE FORM
De Minimis Rate Used: N
Rate Explanation: The District has no indirect cost in the federal programs.
The period of availability of federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the project period may extend 30 days beyond the project period ending date, in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3, Uniform Guidance.