Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The District has no grants claiming indirect costs and when costs are claimed, a state-provided indirect cost rate is used.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Weld County School District RE-4 (the “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 portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
The District’s basic financial statements include the operations of Windsor Charter Academy, a discretely presented component unit, which received federal awards which are not included in the District’s schedule of expenditures of federal awards for the year ended June 30, 2023.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The District has no grants claiming indirect costs and when costs are claimed, a state-provided indirect cost rate is used.
There were no subrecipients of federal awards during the year ended June 30, 2023.
Title: Donated Commodities
Accounting Policies: Expenditures reported on the Schedule are reported on the 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The District has no grants claiming indirect costs and when costs are claimed, a state-provided indirect cost rate is used.
Commodities donated to the District by the U.S. Department of Agriculture (“USDA”) are valued based on the USDA’s Donated Commodity Price List and values provided by the USDA. The
commodities are recognized as revenue and expenditures when the commodities are used. During the year ended June 30, 2023, the District received food commodities totaling $167,024.