Notes to SEFA
Title: PROGHRAM TYPES
Accounting Policies: BASIS OF PRESENTATION -- The Schedule of Expenditures of Federal Awards of Seymour R-II School District is presented using the modified cash basis of accounting. This is the same basis of accounting used in preparing Seymour R-II School District's financial statements. The expenditures reported in the Schedule of Expenditures of Federal Awards represent only the federally funded portions of the program.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal programs, including clusters of programs, with expenditures in excess of $750,000 are considered Type A programs. Federal programs with expenditures of less than $750,000 are considered Type B programs.
Title: SUBRECIPIENTS
Accounting Policies: BASIS OF PRESENTATION -- The Schedule of Expenditures of Federal Awards of Seymour R-II School District is presented using the modified cash basis of accounting. This is the same basis of accounting used in preparing Seymour R-II School District's financial statements. The expenditures reported in the Schedule of Expenditures of Federal Awards represent only the federally funded portions of the program.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District did not provide funds to subrecipients in this fiscal year.
Title: NONCASH EXPENDITURES
Accounting Policies: BASIS OF PRESENTATION -- The Schedule of Expenditures of Federal Awards of Seymour R-II School District is presented using the modified cash basis of accounting. This is the same basis of accounting used in preparing Seymour R-II School District's financial statements. The expenditures reported in the Schedule of Expenditures of Federal Awards represent only the federally funded portions of the program.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule of expenditures of Federal Awards includes noncash expenditures for the Commodity Supplemental Food Program. The program expenditures have been presented at fair market value of commodities received during the fiscal year.