Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards (the"Schedule") are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Negative amounts shown onthe Schedule represent adjustments or credits made in the normal course of business to amountsreported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule includes the federal award activity of Midway Public School District No. 128 underprograms of the federal government for the year ended June 30, 2022. The information in thisschedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of Midway Public School District No. 128, it is not intended toand does not present the financial position or changes in net position of the District.
Title: NonMonetary Transactions
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards (the"Schedule") are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Negative amounts shown onthe Schedule represent adjustments or credits made in the normal course of business to amountsreported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District receives commodities through the food distribution program and the assistance isvalued at the fair value of the commodities received and disbursed.
Title: Pass-through Entities
Accounting Policies: Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards (the"Schedule") are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Negative amounts shown onthe Schedule represent adjustments or credits made in the normal course of business to amountsreported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
All pass-through entities listed above use the same AL numbers as the federal grantors to identifythese grants, and have not assigned any additional identifying numbers.