Notes to SEFA
Accounting Policies: (1) FEDERAL EXPENDITURES
The Schedule of Expenditures of Federal Awards reflects federal expenditures and certain state grants for all individual grants which were active during the fiscal year.
(2) BASIS OF ACCOUNTING
The School uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities in Note 3. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
(3) NONMONETARY FEDERAL AWARDS – DONATED FOOD
The Commonwealth of Pennsylvania distributes federal surplus food to institutions (schools, hospitals and prisons) and to the needy. Expenditures reported in the Schedule of Expenditures of Federal Awards under Assistance Listing #10.555 USDA Commodities represent federal surplus food consumed by the School during the 2022-2023 fiscal year.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. No indirect costs were charged to the School’s Federal awards for the year ended June 30, 2023.