Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of theLos Alamos Public Schools (The District) and is presented on the modified accrual basis of accounting, which is thesame basis as was used to prepare the fund financial statements. The information in this Schedule is presented inaccordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amountspresented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.