Notes to SEFA
Accounting Policies: 1 - Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal grant activity of the District under programs of the federal government for the year ended June 30, 2022. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statement. Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position of the District. 2 - Summary of Significant Accounting Policies Expenditures reported on the schedule are reported on the regulatory basis of accounting, as described in Note 1 to the District's financial statement. The District elected not to use the 10% de minimis indirect cost rate. 3 - Additional Audits Grantor agencies reserve the right to conduct additional audits of the District's grant programs that may result in disallowed costs to the District. However, management does not believe such audits would result in any disallowed costs that would be material to the District's financial position at June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.