Notes to SEFA
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: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.