Notes to SEFA
Title: Program Clusters
Accounting Policies: Note 1. Basis of PresentationThe accompanying Schedule of Expenditures of Federal and State Awards (SEFSA) includes the federal and State grant activity of Alleghany County Board of Education under the programs of the federal government and the State of North Carolina for the year ended June 30, 2022. The information in this SEFSA 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 and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of the Alleghany County Board of Education, it is not intended to, and does not, present the financial position, changes in net position, or cash flows of the Alleghany County Board of Education.Note 2. Summary of Significant Accounting PoliciesExpenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types 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 following are clustered by the N. C. Department of Public Instruction and are treated separately for State audit requirement purposes: Child Nutrition Program, Special Education