Notes to SEFA
Title: Note 2
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency'sFinancial Accountability System Resource Guide. Special revenue funds are used to account forresources restricted to, or designated for, specific purposes by a grantor. Federal and state financialassistance generally is accounted for in a Special Revenue Fund.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accounting and financial reporting treatment applied to a fund is determined by its measurementfocus. The Governmental Fund types are accounted for using a current financial resources measurementfocus. All Federal grant funds were accounted for in a Special Revenue Fund which is a GovernmentalFund type. With this measurement focus, only current assets and current liabilities generally are includedon the balance sheet. Operating statements of these funds present increases (i.e., revenues and otherfinancing sources) and decreases (i.e., expenditures and other financing uses) in net current assets.The modified-accrual basis of accounting is used for the governmental funds. This basis of accountingrecognizes revenues in the accounting period in which they become both measurable and available andexpenditures in the accounting period in which the fund liability is incurred, except that principal andinterest on general long-term debt are recognized when due.Federal grant funds are considered to be earned to the extent of expenditures made under the provisionsof the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues untilearned.
Title: Note 3
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency'sFinancial Accountability System Resource Guide. Special revenue funds are used to account forresources restricted to, or designated for, specific purposes by a grantor. Federal and state financialassistance generally is accounted for in a Special Revenue Fund.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The period of availability for federal grant funds for the purpose of liquidation of outstanding obligationsmade on or before the ending date of the federal project period is extended 30 days beyond the federalproject period ending date, in accordance with provisions in Section H, Period of Availability of FederalFunds, Part 3, 0MB Uniform Guidance.
Title: Note 4
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency'sFinancial Accountability System Resource Guide. Special revenue funds are used to account forresources restricted to, or designated for, specific purposes by a grantor. Federal and state financialassistance generally is accounted for in a Special Revenue Fund.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Reconciliation of the Schedule of Expenditures of Federal Awards to Exhibit C-3 is as follows:Amount reported on Schedule of Expenditures of Federal A wardsAdditional federal revenue reportedMedicaid SHARSE-RateInterest Subsidy on Qualified School Construction BondsF.SSERIITotal Federal Program Revenue Reported on Exhibit C-3Amount reported on Schedule of Expenditures of Federal Awards 96,097,885Additional federal revenue reported Medicaid SHARS 5,291,245E-Rate 1,382,562Interest Subsidy on Qualified School Construction Bonds 1,100,541ESSER II 10,306,895Total Federal Program Revenue Reported on Exhibit C-3 114,179,128