Notes to SEFA
Title: Note 3 – Food Distribution
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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: The School has elected not to use the 10 percent de minimu indirect cost rate allowed under the Uniform Guidance.
Non-monetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed.
Title: Note 4 –ARP ESSER III
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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: The School has elected not to use the 10 percent de minimu indirect cost rate allowed under the Uniform Guidance.
The school had incorrectly coded $270,185 of Project 795 expenditures and were reimbursed by the State Department of Education (SDE) in 2022-2023. The school reimbursed the SDE for this amount: however, the reimbursement was not made back to the SDE until the 2023-2024 year. The school had an actual receivable of $33,939 and a payable back of the SDE of $270,185.
Title: Note 5 – Johnson O’Malley
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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: The School has elected not to use the 10 percent de minimu indirect cost rate allowed under the Uniform Guidance.
The true receivable for this program is $12,808.
Title: Note 6 –Donated PPE
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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: The School has elected not to use the 10 percent de minimu indirect cost rate allowed under the Uniform Guidance.
The school reported they did not receive any federally funded personal protective equipment (PPE).