Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Federal program expenditures included in the accompanying schedule are presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the 10 percent de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards includes federal grant activity of Sheridan County School District #1 (the District). The District primarily receives federal awards indirectly through pass-through entities.
Title: Summary of Significant Accounting Policies
Accounting Policies: Federal program expenditures included in the accompanying schedule are presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the 10 percent de minimis indirect cost rate.
Federal program expenditures included in the accompanying schedule are presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The District has not elected to utilize the 10 percent de minimis indirect cost rate.
There were no loans/loan guarantees.
Items with an asterisk (*) are major programs.
Non-monetary assistance is reported in the schedule at fair market value of commodities received and disbursed.