Notes to SEFA
Title: GENERAL
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Axtell Independent School District. The District's reporting entity is defined in Note I of the financial statements. Federal awards received directly fro mfederal agengies, as well as federal awardspassed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use a de minimis cost rate of 10% as described at 2 CFR 200.414(f)-Indirect (F&A) costs.
The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Axtell Independent School District. The District's reporting entity is defined in Note I of the financial statements. Federal awards received directly fro mfederal agengies, as well as federal awardspassed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
Title: BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Axtell Independent School District. The District's reporting entity is defined in Note I of the financial statements. Federal awards received directly fro mfederal agengies, as well as federal awardspassed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use a de minimis cost rate of 10% as described at 2 CFR 200.414(f)-Indirect (F&A) costs.
The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The District’s significant account policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the
financial statements.
Title: PASS-THROUGH EXPENDITURES
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Axtell Independent School District. The District's reporting entity is defined in Note I of the financial statements. Federal awards received directly fro mfederal agengies, as well as federal awardspassed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use a de minimis cost rate of 10% as described at 2 CFR 200.414(f)-Indirect (F&A) costs.
None of the federal programs expended by the District were provided to subrecipients.
Title: INDIRECT COSTS
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Axtell Independent School District. The District's reporting entity is defined in Note I of the financial statements. Federal awards received directly fro mfederal agengies, as well as federal awardspassed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use a de minimis cost rate of 10% as described at 2 CFR 200.414(f)-Indirect (F&A) costs.
The District did not elect to apply the 10% de minimis indirect cost rate.
Title: RECONCILIATION OF FEDERAL AWARDS
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Axtell Independent School District. The District's reporting entity is defined in Note I of the financial statements. Federal awards received directly fro mfederal agengies, as well as federal awardspassed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use a de minimis cost rate of 10% as described at 2 CFR 200.414(f)-Indirect (F&A) costs.
See the Notes to the SEFA for chart/table.