Notes to SEFA
Title: COMMODITY DISTRIBUTION
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (theSchedule) are reported on the modified accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited 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 commoditiesreceived and disbursed.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (theSchedule) are reported on the modified accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited 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. 480 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 Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles,and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of Independent School District No. 480, it isnot intended to and does not present the financial position or changes in net position ofIndependent School District No. 480.
Title: PASS-THROUGH ENTITIES
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (theSchedule) are reported on the modified accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
All pass-through entities listed above use the same AL numbers as the federal grantors toidentify these grants and have not assigned any additional identifying numbers.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (theSchedule) are reported on the modified accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During 2022, the District did not pass any federal money to subrecipients.