Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the schedule) presents the activity of Federal Award Programs administered by the Carmel Central School District (the District) and using the modified accrual basis of accounting. The information presented in the Schedule 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the District financial statements. Federal Awards that are included in the Schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies.
De Minimis Rate Used: N
Rate Explanation: Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source for the data presented. When the District has federal awards programs that are charged with indirect costs, they are based upon a rate established by New York State and they have elected not to use the 10% de-minimis indirect cost rate allowed under the Uniform Guidance.