Notes to SEFA
Title: NOTE B
Accounting Policies: NOTE A: BASIS OF PRESENTATION-THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF THE SCHOOL DISTRICT AND IS PRESENTED ON ANOTHER COMPREHENSIVE BASIS OF ACCOUNTING CONFORMING WITH THE ACCOUNTING PRACTICES PRESCRIBED OR PERMITTED BY THE OKLAHOMA STATE DEPARTMENT OF EDUCATION WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN GERERALLY ACCEPTED ACCOUNTING PRINCIPLES. UNDER THIS METHOD, EXPENDITURES ARE RECOGNIZED WHEN AN APPROVED PURCHASE ORDER IS ISSUED.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMODITIES REPRESENTING NON-CASH EXPENDITURES HAVE BEEN INCLUDED IN THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS WHICH IS AN EXCEPTION TO THE PRESCRIBED BASIS OF ACCOUNTING.
Title: NOTE C
Accounting Policies: NOTE A: BASIS OF PRESENTATION-THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF THE SCHOOL DISTRICT AND IS PRESENTED ON ANOTHER COMPREHENSIVE BASIS OF ACCOUNTING CONFORMING WITH THE ACCOUNTING PRACTICES PRESCRIBED OR PERMITTED BY THE OKLAHOMA STATE DEPARTMENT OF EDUCATION WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN GERERALLY ACCEPTED ACCOUNTING PRINCIPLES. UNDER THIS METHOD, EXPENDITURES ARE RECOGNIZED WHEN AN APPROVED PURCHASE ORDER IS ISSUED.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
THERE WEERE NO AMOUNTS PASSED TO SUBRECIPIENTS AND DOES NOT USE THE 10% DE MINIMIS COST RATE.
Title: NOTE D
Accounting Policies: NOTE A: BASIS OF PRESENTATION-THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF THE SCHOOL DISTRICT AND IS PRESENTED ON ANOTHER COMPREHENSIVE BASIS OF ACCOUNTING CONFORMING WITH THE ACCOUNTING PRACTICES PRESCRIBED OR PERMITTED BY THE OKLAHOMA STATE DEPARTMENT OF EDUCATION WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN GERERALLY ACCEPTED ACCOUNTING PRINCIPLES. UNDER THIS METHOD, EXPENDITURES ARE RECOGNIZED WHEN AN APPROVED PURCHASE ORDER IS ISSUED.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
GRANTOR PROVIDES ADEQUATE INSURANCE COVERAGE AGAINST LOSS ON ASSETS PURCHASED WITH FEDERAL AWARDS.