Notes to SEFA
Accounting Policies: Summary of Significant Accounting Policies
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The
governmental fund types are accounted for using a current financial resources measurement focus. All federal
expenditures were accounted for in the General Fund and Special Revenue Funds which are governmental fund
types. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowed or are limited as to reimbursement. No federal financial assistance has
been provided to a subrecipient.
Federal grants are considered to be earned to the extent of expenditures made under the provisions of the grant.
De Minimis Rate Used: N
Rate Explanation: Indirect Cost
The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.