Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of the
Millington Municipal Schools (the "School") and is presented on the accrual basis of accounting. The information in the
schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost
Principles and Audit Requirements for Federal Awards ("Uniform Guidance"). Therefore, some amounts presented in this
schedule may differ from amounts presented in, or used in the presentation of, the financial statements. 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 not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The were no subrecipient expenditures for the year ended June 30, 2023.