Notes to SEFA
Accounting Policies: NOTE A - BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
award activity of Teays Valley Local School District, Pickaway County, Ohio (the District) under
programs of the federal government for the fiscal year ended June 30, 2023. The information on
this Schedule is prepared 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
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.
NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on cash basis of accounting. Such expenditures
are recognized following the cost principles contained in Uniform Guidance wherein certain types of
expenditures may or may not be allowable or may be limited as to reimbursement.
NOTE C - INDIRECT COST RATE
CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a
negotiated indirect cost rate to charge a de minimis rate of 10% of modified total direct costs to
indirect costs. The District has elected not to use the 10-percent de minimis indirect cost rate.
NOTE D - CHILD NUTRITION CLUSTER
The District commingles cash receipts from the U.S. Department of Agriculture with similar State
grants. When reporting expenditures on this Schedule, the District assumes it expends federal
monies first.
NOTE E - FOOD DONATION PROGRAM
The District reports commodities consumed on the Schedule at the entitlement value. The District
allocated donated food commodities to the respective program that benefited from the use of those
donated food commodities.
NOTE F - TRANFERS BETWEEN PROGRAM YEARS
Federal regulations require schools to obligate certain federal awards by June 30. However, with
Ohio Department of Education’s consent, schools can transfer unobligated amounts to the subsequent
fiscal year’s program.
The District transferred the following amount from 2023 to 2024 programs:
AL Amount
Program Title Number Transfe rred
American Rescue Plan Elementary
and Secondary School Emergency Relief Fund 84.425U
$ 533,888
Title I Grants to Local Educational Agencies 84.010A 5,220 COVID-19 - Coronavirus
State
and Local Fiscal Recovery Funds 21.027 147,446
De Minimis Rate Used: N
Rate Explanation: N/A