Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. 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. Negative amounts, (if any) shown on the schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in prior years. Pass‐through entity
identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Huron Intermediate School District has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of Huron Intermediate School District under programs of the federal government for the year ended June
30, 2022. The information in this 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 Huron Intermediate School District, it is not intended to and does not present the financial position or changes
in net position of Huron Intermediate School District.
The District qualifies for low-risk auditee status. Management has utilized NexSys, the Cash Management System
and the Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. 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. Negative amounts, (if any) shown on the schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in prior years. Pass‐through entity
identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Huron Intermediate School District has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. 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. Negative amounts (if any) shown on
the schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. Pass-through entity identifying numbers are presented where available. The District
has elected not to use the 10-percent de-minimis indirect cost rate allowed under the Uniform Guidance.
Title: Reconciliation with Audited Financial Statements
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. 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. Negative amounts, (if any) shown on the schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in prior years. Pass‐through entity
identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Huron Intermediate School District has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
See the Notes to the SEFA for chart/table
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. 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. Negative amounts, (if any) shown on the schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in prior years. Pass‐through entity
identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Huron Intermediate School District has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Of the federal expenditures presented in the schedule of expenditures of federal awards, Huron Intermediate
School District provided federal awards to subrecipients reported in the enclosed schedule of pass-through
amounts.