Notes to SEFA
Accounting Policies: NOTE 1: BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the District. The information in the SEFA 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 (the Uniform Guidance). Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the basic financial statements. NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. These 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. Negative amounts shown on the SEFA, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. NOTE 3: INDIRECT COST RATE The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. NOTE 4: PRIOR YEAR EXPENDITURES Expenditures in the amount of $1,413,318 related to the federal grant program, ESSER II, Assistance Listing number 84.425D, were incurred in the prior year, however, approval was not provided by the granting agency until fiscal year 2022. Accordingly, these expenditures have been listed on the fiscal year 2022 SEFA.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.