Notes to SEFA
Title: Noncash Awards
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Stanwood-Camano School District financial statements. The Stanwood-Camano School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The Stanwood-Camano School District used the federal restricted rate of 3.26% or the federal unrestricted rate of 12.29%, whichever was applicable to the individual federal award.
The amount of commodities reported on the Schedule is the value of commodities received by the Stanwood-Camano School District during current year and priced as prescribed by the U.S. Department of Agriculture.
Title: Transferability
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Stanwood-Camano School District financial statements. The Stanwood-Camano School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The Stanwood-Camano School District used the federal restricted rate of 3.26% or the federal unrestricted rate of 12.29%, whichever was applicable to the individual federal award.
As allowed by federal regulations, the Stanwood-Camano School District elected to transfer program funds. The district expended $7,443 from Title IV, Student Support and Academic Enrichment Program (84.424) on allowable activities of the Title II, Part A Supporting Effective Instruction State Grants (84.367). This amount is reflected on the Schedule in the expenditures of Title II, Part A Supporting Effective Instruction State Grants (84.367).
Title: Donated PPE (due to COVID-19)
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Stanwood-Camano School District financial statements. The Stanwood-Camano School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The Stanwood-Camano School District used the federal restricted rate of 3.26% or the federal unrestricted rate of 12.29%, whichever was applicable to the individual federal award.
The Stanwood-Camano School District received donated PPE with a fair market value of $2,620.