Notes to SEFA
Title: NONMONETARY TRANSACTIONS
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the “Schedule”) are
reported on the modified cash basis of accounting. Such expenditures are recognized as the
expenditures are paid.
De Minimis Rate Used: N
Rate Explanation: The School District does not draw for indirect administrative expenses and has not elected to use
the 10% de minimis cost rate.
The District receives commodities through the food distribution program, the assistance is valued
at the fair value of the commodities received and disbursed.
Title: BASIS OF PRESENTATION/ACCOUNTING
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the “Schedule”) are
reported on the modified cash basis of accounting. Such expenditures are recognized as the
expenditures are paid.
De Minimis Rate Used: N
Rate Explanation: The School District does not draw for indirect administrative expenses and has not elected to use
the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity
of the School District and 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 or changes in net position of the District.
The School District received federal awards both directly and indirectly through pass-through
entities. The School District has not provided any federal financial assistance to subrecipients.