Notes to SEFA
Accounting Policies: Summary of Significant Accounting Policies - Expenditures reported on the Schedule are reported on the
modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained
in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts (if any) shown on the schedule represent adjustments or credits made in the
normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying
numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Thornapple Kellogg School District has elected to not use the 10-
percent de minimis indirect cost rate allowed under the Uniform Guidance.