Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of the GadsdenIndependent School District No. 16 and is presented on the modified accrual basis of accounting, which is the same basis aswas used to prepare the fund financial statements. The information in this Schedule is presented in accordance with therequirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used inthe preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.