Title: NotestoSefa
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of West Sabine
Independent School District 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).
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation
of the basic financial statements.
2. For all federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability
System Resource Guide . Special revenue funds are used to account for resources restricted to, or designated for, specific
purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
3. 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 grant
funds were accounted for in the General Fund or a Special Revenue Fund which are governmental fund types. With this
measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet.
Operating statements of these funds present increases and decreases in net current assets.
The modified accrual basis of accounting is used for the governmental fund types, and agency funds. The basis of
accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both
measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable,
except for unmatured interest on general long-term debt, which is recognized when due, and certain compensated
absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with
expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant,
and, accordingly, when such funds are received, they are recorded as unearned revenues until earned.
4. The period of availability for federal grant funds for the purpose of liquidation of outstanding obligations made on or
before the ending date of the federal project period extended 30 days beyond the federal project period ending date,
in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3 Uniform Guidance Compliance
Statement - Provisional 6/97.
5. West Sabine Independent School District has not elected to use the 10% de minimis indirect cost rate as allowed under
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards includes the federal grant activity of West Sabine
Independent School District 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).
Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation
of the basic financial statements.
2. For all federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability
System Resource Guide . Special revenue funds are used to account for resources restricted to, or designated for, specific
purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
3. 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 grant
funds were accounted for in the General Fund or a Special Revenue Fund which are governmental fund types. With this
measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet.
Operating statements of these funds present increases and decreases in net current assets.
The modified accrual basis of accounting is used for the governmental fund types, and agency funds. The basis of
accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both
measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable,
except for unmatured interest on general long-term debt, which is recognized when due, and certain compensated
absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with
expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant,
and, accordingly, when such funds are received, they are recorded as unearned revenues until earned.
4. The period of availability for federal grant funds for the purpose of liquidation of outstanding obligations made on or
before the ending date of the federal project period extended 30 days beyond the federal project period ending date,
in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3 Uniform Guidance Compliance
Statement - Provisional 6/97.
5. West Sabine Independent School District has not elected to use the 10% de minimis indirect cost rate as allowed under
Uniform Guidance.