Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the Schedule) arereported on the modified accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance), wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule includes the federal award activity of Independent School DistrictNo. 432 under programs of the federal government for the year ended June 30, 2022. Theinformation in this schedule is presented in accordance with the requirements of the UniformGuidance. Because the Schedule presents only a selected portion of the operations ofIndependent School District No. 432, it is not intended to and does not present the financialposition or changes in net position of Independent School District No. 432.
Title: AGENCY OR PASS-THROUGH NUMBER
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the Schedule) arereported on the modified accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance), wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District received money passed through multiple grantor agencies. There were no passthrough identifier numbers identified with the grants above.
Title: COMMODITY DISTRIBUTION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the Schedule) arereported on the modified accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance), wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the Schedule) arereported on the modified accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance), wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During 2021, the District did not pass any federal money to subrecipients.