Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards and state financial assistance is prepared using the accrual basis of accounting. The determination of when an award is expended is based on when the activity related to the award occurred. Type A programs are defined as federal programs with federal expenditures exceeding the larger of $750,000 or 3% of total federal expenditures. The threshold of $750,000 was used in distinguishing between Type A and Type B programs. The risk based approach was used in the selection of federal programs to be tested as major programs. The District qualified as a low-risk auditee for the fiscal year ended September 30, 2022.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.