Notes to SEFA
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, wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Independent School District #2198 has not charged indirect costs to any of the federal programs. Therefore, the
election of the 10 percent de minimis indirect cost rate is not applicable as allowed under the Uniform Guidance.