Notes to SEFA
Title: Note 3-Noncash Awards Food Commodities
Accounting Policies: Basis of Accounting--This Schedule is prepared on the same basis of accounting as the Riverview School Districts financial statements. The Riverview School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portion of the program. District records should be consulted to determine amounts expended or matched from non-federalsources.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amount of food commodities reported on the Schedule is the value of commoditiesreceived by the Riverview School District during current year and priced as prescribed by theUSDA.
Title: Note 4 Program Costs
Accounting Policies: Basis of Accounting--This Schedule is prepared on the same basis of accounting as the Riverview School Districts financial statements. The Riverview School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portion of the program. District records should be consulted to determine amounts expended or matched from non-federalsources.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Riverview School Districts portion, are more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as toreimbursement.