Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grantactivity of the School District of Oconee County and is presented on the modified accrual basis ofaccounting. The information in this schedule is presented in accordance with the requirements ofOMBs Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Therefore, some amounts are presented in, or used in thepreparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.