Notes to SEFA
Title: Commodities
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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 to reimbursement. Pass-through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The School Board did not incur any indirect costs assiciated with federal awards.
Nonmonetary assistance in the amount of $319,579 is reported in the schedule at the fair market value of the commodities received and consumed. At June 30, 2023, the School Board had $106,992 of commodities remaining in inventory.
Title: Relationship to Fund Financial Statements
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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 to reimbursement. Pass-through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The School Board did not incur any indirect costs assiciated with federal awards.
Federal financial assistance is reported in the School Board’s fund financial statements as follows:
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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 to reimbursement. Pass-through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The School Board did not incur any indirect costs assiciated with federal awards.
The School Board provided no federal awards to subrecipients
Title: Donated PPE Purchased with Federal Assistance Funds for COVID-19 Response
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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 to reimbursement. Pass-through identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The School Board did not incur any indirect costs assiciated with federal awards.
The School Board did no receive donated PPE purchased with federal assistance funds for the COVID-19 response.