Notes to SEFA
Title: 1
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized
following the cost principles contained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State,
Local, and Indian Tribal Governments Organizations, wherein certain types of expenditures are not allowable or are limited
as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cameron Independent School District has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
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.
Title: 2
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized
following the cost principles contained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State,
Local, and Indian Tribal Governments Organizations, wherein certain types of expenditures are not allowable or are limited
as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cameron Independent School District has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
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 a Special Revenue Fund, which is a Governmental Fund type. With this
measurement focus, only current assets, 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. This 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 deferred revenues until earned.
Title: 3
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized
following the cost principles contained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State,
Local, and Indian Tribal Governments Organizations, wherein certain types of expenditures are not allowable or are limited
as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cameron Independent School District has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
During the current year, the District received the following funds which are not included in the Schedule of
Expenditures of Federal Awards