Notes to SEFA
Title: IDENTIFICATION OF MAJOR PROGRAMS
Accounting Policies: The schedule of expenditures of federal and certain state awards of the Benton Area School District are presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Grant Guidance. Therefore, some amounts may differ from amounts presented in, or used in the presentation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
As shown on the accompanying Schedule of Findings and Questioned Costs, the dollar threshold used to distinguish between type A and type B programs were seven hundred and fifty thousand ($750,000) dollars. The District had one major programs, Education Stabilization Fund, which is CFDA number 84.425 with total federal expenditures of $495,481 which covers 48% of federal expenditures.