Notes to SEFA
Accounting Policies: NOTE 1: BASIS OF ACCOUNTING 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 Principals, and Audit Requirements for Federal Awards (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 principals 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 minimus indirect cost rate allowed under the Uniform Guidance. NOTE 4: DONATED PERSONAL PROTECTIVE EQUIPMENT During the emergency period of COVID-19, federal agencies and recipients of federal assistance funds donated personal protective equipment (PPE) to non-federal entities. In connection with that donation, the recipient must disclose the estimated value of the donated PPE, but such amounts are not included in the SEFA. The District did not receive PPE donations during the reporting year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.