Notes to SEFA
Title: 1
Accounting Policies: The SEFA is presented using the cash basis of accounting, which is described in Note 1 to the District's financial statements which recognizes assets, net position/fund equity, revenues and expenditures/expenses when they result from cash transactions.
De Minimis Rate Used: N
Rate Explanation: The auditee used the de minimum cost rate according to the grant agreement.
The Schedule of Expenditures of Federal Awards is presented using the cash basis of accounting, which is described in Note 1 to the District's financial statements.
Title: 2
Accounting Policies: The SEFA is presented using the cash basis of accounting, which is described in Note 1 to the District's financial statements which recognizes assets, net position/fund equity, revenues and expenditures/expenses when they result from cash transactions.
De Minimis Rate Used: N
Rate Explanation: The auditee used the de minimum cost rate according to the grant agreement.
The District did not provide funds to subrecipients in the current year.
Title: 3
Accounting Policies: The SEFA is presented using the cash basis of accounting, which is described in Note 1 to the District's financial statements which recognizes assets, net position/fund equity, revenues and expenditures/expenses when they result from cash transactions.
De Minimis Rate Used: N
Rate Explanation: The auditee used the de minimum cost rate according to the grant agreement.
The District elected not to use the 10% de minimum indirect cost rate.