Notes to SEFA
Title: 4. NONCASH ASSISTANCE
Accounting Policies: 1. BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the District for the year ended June 30, 2023, and is presented using the modified cash basis of accounting as described below. The information in the 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 for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position or changes in net position of the District. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are reported on the modified cash basis of accounting which is described in Note 1 of the District's financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: 3. INDIRECT COST RATE The District elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Commodities received and expended are valued by the Food Service Section of the Department of Elementary and Secondary Education. Expenditures of the COVID-19 Emergency Connectivity Fund Program were valued based on the amount disbursed by the vendor for the equipment that was sent directly to the District.
Title: 5. EDUCATION STABILIZATION FUNDS (ALN 84.425)
Accounting Policies: 1. BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the District for the year ended June 30, 2023, and is presented using the modified cash basis of accounting as described below. The information in the 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 for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position or changes in net position of the District. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are reported on the modified cash basis of accounting which is described in Note 1 of the District's financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: 3. INDIRECT COST RATE The District elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Included in the Schedule for year ended June 30, 2023 is $36,175 and $169 of expenditures under the Education Stabilization Funds, ALNs 84.425U and 84.425D, respectively, of a previous fiscal year. The expenditures were approved in the current fiscal year, and these expenditures have been reported in the current fiscal year in accordance with reporting requirements.