Notes to SEFA
Title: Note 3 – Food Distribution
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
Non-monetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed.
Title: Note 4 –IDEA-B Flowthrough American Rescue Plan (ARP)
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
The school claimed $329 too much and paid back the State Department of Education. The reimbursement to the State Department of Education did not occur until 2023-2024. We have adjusted the ending balance to zero to match the actual balance at 6- 30-23.
Title: Note 5 –Donated PPE
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
The school reported they did not receive any federally funded personal protective equipment (PPE).