Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents total federal awards expended for each individual federal program in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Federal award program titles are reported as presented in the Catalog of Federal Domestic Assistance (CFDA).Federal financial assistance received is reflected in the District's financial statements within the General Fund as grants-in-aid from federal sources. The Schedule of Expenditures of Federal Awards includes the federal grant activity of Summit Hill School District No. 161 and is presented on the modified accrual basis of accounting. The information presented in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 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: The auditee did not use the de minimis cost rate.