Notes to SEFA
Accounting Policies: 1. GENERAL
The Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all applicable
federal award programs of Los Fresnos Consolidated Independent School District (“the District”). The
District’s reporting entity is defined in Note I of the basic financial statements. Federal awards received
directly from federal agencies, as well as federal awards passed through other government agencies, are
included on the Schedule.
2. BASIS OF ACCOUNTING
The Schedule is presented using the modified accrual basis of accounting. The District’s significant
account policies, including the modified accrual basis of accounting, are presented in Note I of the basic
financial statements. 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). Therefore, some of the
amounts presented in this schedule may differ from amounts presented in, or used in the preparation of,
the financial statements.
De Minimis Rate Used: N
Rate Explanation: N/A