Notes to SEFA
Title: NONMONETARY FEDERAL AWARDS
Accounting Policies: Grant funds from federal sources and passed through the Pennsylvania Department of Education are considered to be earned to the extent of expenditures made under the provisions of the grant and, accordingly, when such funds are received they are recorded as deferred revenues until earned.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the fiscal year ended June 30, 2022, the School participated in one (1) nonmonetary program, USDA Donated Govt. Commodities through the US Department of Agriculture. Awards and expenditures noted for the USDA Govt. Commodities program on the Schedule of Expenditures of Federal Awards has been reflected at fair market value of the commodities received.