Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of Federal awards includes the Federal grant activity of SanMarcos Consolidated Independent School District and is presented on the modified accrual basis ofaccounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.