Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Marion 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 the 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.
De Minimis Rate Used: N
Rate Explanation: Auditee uses an Indirect Cost Rate approved by the State Education Agency
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Marion 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 the 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.
Title: Note 2: Federal Awards Reconciliation
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Marion 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 the 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.
De Minimis Rate Used: N
Rate Explanation: Auditee uses an Indirect Cost Rate approved by the State Education Agency
See the Notes to the SEFA for chart/table
Title: Note 3: Indirect Costs
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Marion 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 the 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.
De Minimis Rate Used: N
Rate Explanation: Auditee uses an Indirect Cost Rate approved by the State Education Agency
The District has not elected to use the 10% deminimis indirect cost rate
Title: Note 4: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Marion 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 the 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.
De Minimis Rate Used: N
Rate Explanation: Auditee uses an Indirect Cost Rate approved by the State Education Agency
Of the federal expenditures presented in the SEFA, the District did not provide any federal awards to subrecipients