Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal
grant activity of the Schenevus Central School District (School District), under programs of the
federal government for the year ended June 30, 2022. 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
or the respective changes in financial position of the governmental activities and each major fund
of the School District.
Title: PASS-THROUGH PROGRAMS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
Where the School District receives funds from a government entity other than the federal
government (pass-through), the funds are accumulated based upon the Federal Assistance
Listing number advised by the pass-through grantor.
Identifying numbers, other than the Federal Assistance Listing numbers, which may be
assigned by pass-through grantors are not maintained in the School District’s financial
management system. The School District has identified certain pass-through identifying
numbers and included them in the schedule of expenditures of federal awards, as available.
Title: INDIRECT COSTS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
Indirect costs are included in the reported expenditures to the extent they are included in the
financial reports used as the source for the expenditures presented.
The School District did not elect to use the 10 percent de-minimis indirect cost rate as allowed
under the Uniform Guidance.
Title: MATCHING COSTS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
Matching costs, i.e. the School District’s share of certain program costs, are not included in the
reported expenditures.
Title: NON-CASH FEDERAL ASSISTANCE
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
The School District is the recipient of a federal financial award program that does not result in
cash receipts or disbursements termed a “non-monetary” program. During the year ended
June 30, 2022, the School District received food commodities, the fair value of which
amounted to $7,821 is presented in the Schedule as National School Lunch Program (Division
of Donated Foods, Federal Assistance Listing #10.555).