Notes to SEFA
Title: Food Distribution
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These 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, if any, 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: Pine Tree ISD used the indirect cost rate allowed by the Texas Education Agency.
Nonmonetary assistance is reported in the schedule at fair market value of the commodities received and disbursed. At June 30, 2023, the District had food commodities totaling $147,763 in inventory.