Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to the reimbursement. Negative amounts shown on the Schedule represent adjustment or credits made in the normal course of business amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The School District did not elect to use the De Minimus rate for indirect costs.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the School District under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School District.
Title: Food Commodities
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to the reimbursement. Negative amounts shown on the Schedule represent adjustment or credits made in the normal course of business amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The School District did not elect to use the De Minimus rate for indirect costs.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
Title: Pass-Through Entities
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to the reimbursement. Negative amounts shown on the Schedule represent adjustment or credits made in the normal course of business amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The School District did not elect to use the De Minimus rate for indirect costs.
No funds were passed through to subrecipients in year ended June 30, 2023.
Title: Reconciliation of Federal Revenues to Fund Basis Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to the reimbursement. Negative amounts shown on the Schedule represent adjustment or credits made in the normal course of business amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The School District did not elect to use the De Minimus rate for indirect costs.
Total federal revenues per financial statements:
General Fund $6,907,711
Cafeteria Fund 2,482,601
$9,390,312
Add federal revenue passed-through Intermediate Unit:
Special Education-Grants to States/IDEA-B 823,387
Special Education Preschool grant -
823,387
Less: Medical Assistance Program-ACCESS
Account #8810 funds are considered
fee for service revenue. (193,043)
(193,043)
$10,020,656
Total expenditures per SEFA $10,125,301
Less National School Lunch Program State Share (104,645)
$10,020,656