Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance whereincertain types of expenditures are not allowable or are limited as to reimbursement. Negative amountsshown on the schedule represents adjustments or credits made in the normal course of business toamounts reported as expenditures in prior years. Pass-through entity identifying numbers are presentedwhere available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of theWilliamsburg Independent School District under the programs of the federal government for the yearended June 30, 2021. The information in this schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards, (Uniform Guidance). Because the schedulepresents only a selected portion of the operations of the Williamsburg Independent School District, it isnot intended to and does not present the financial position, changes in net position or cash flows of theDistrict.
Title: FOOD DISTRIBUTION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance whereincertain types of expenditures are not allowable or are limited as to reimbursement. Negative amountsshown on the schedule represents adjustments or credits made in the normal course of business toamounts reported as expenditures in prior years. Pass-through entity identifying numbers are presentedwhere available.
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 value of the commodities received anddisbursed. For the year ended June 30, 2021, the District received food commodities totaling $42,503.