Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards included the federal award activity of Sioux Center
Community School District under programs of the federal government for the year ended June 30, 2023. 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 protion of the operations of the District, it is not intended to and does not
present the financial position, changes in financial position, or cash flows of the District. Expenditures reported in the Schedule are reported on the accrual or modified accrual basis of accounting. 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. Sioux Center Community School District has not elected to use the 10% de
minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore no indirect cost rate is needed.
The accompanying Schedule of Expenditures of Federal Awards included the federal award activity of Sioux Center
Community School District under programs of the federal government for the year ended June 30, 2023. 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 protion of the operations of the District, it is not intended to and does not
present the financial position, changes in financial position, or cash flows of the District.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards included the federal award activity of Sioux Center
Community School District under programs of the federal government for the year ended June 30, 2023. 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 protion of the operations of the District, it is not intended to and does not
present the financial position, changes in financial position, or cash flows of the District. Expenditures reported in the Schedule are reported on the accrual or modified accrual basis of accounting. 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. Sioux Center Community School District has not elected to use the 10% de
minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated, therefore no indirect cost rate is needed.
Expenditures reported in the Schedule are reported on the accrual or modified accrual basis of accounting. 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. Sioux Center Community School District has not elected to use the 10% de
minimis indirect cost rate as allowed under the Uniform Guidance.