Notes to SEFA
Title: Non-Monetary Assistance
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. Expenditures are recognized following cost principles contained in the Uniform Guidance. The School District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Non-monetary assistance was received from the U.S. Department of Agriculture in the amount of $117,082 in the form of commodities. These commodities are valued at U.S.D.A.s approximate costs. During the year ended June 30, 2022, the School District used $116,834 in commodities and established a year-end inventory of $10,459. The amount recognized as revenue of $4,039 represents the commodities used versus the commodities received, which are recognized as revenue in the basic financial statements.