Notes to SEFA
Title: Note B - Food Distribution Program
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Central Community School System and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
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 commodities received and disbursed. At June 30, 2022, the Central Community School System had food commodities totaling $8,543.73 in inventory.
Title: Note D - Reconciliation of Federal Expenditures
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Central Community School System and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal Assistance expended as reported on the Schedule of Expenditures of Federal Awards: $ 9,270,913 Add: revenue received in current year of prior year federal expenditures of 75,487 Equals Federal grant revenues $ 9,346,400; Revenues from Federal Sources as reported on: Statement E - All Governmental Fund Types - Statement of Revenues, Expenditures and Changes in Fund Balance $ 9,346,400.