Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: BASIS OF PRESENTATION, FOOD DONATION
De Minimis Rate Used: N
Rate Explanation: USED RATE CALCULATED BY KY DEPT OF EDUCATION
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Shelby County School District (the “District) under programs of the federal government for the year ended June 30, 2023 and is presented on the modified accrual basis of accounting. 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 the District, it is not intended to and does not present the financial position, changes in net position or cash flows of the District.
Title: FOOD DONATION
Accounting Policies: BASIS OF PRESENTATION, FOOD DONATION
De Minimis Rate Used: N
Rate Explanation: USED RATE CALCULATED BY KY DEPT OF EDUCATION
Nonmonetary assistance for food donation is reported in the Schedule at the fair market value of the commodities disbursed. These donations are received from the US Department of Agriculture via the Kentucky Department of Agriculture (KDA). The KDA has not provided a pass-through grant number.