Title: 1
Accounting Policies: Uses the modified accrual basis of accounting for Governmental Fund types.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
1. For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability System Resource Guide. Special Revenue Funds are used to account for resources restricted to, or designated for, specific purposes by a grantor. Federal and State financial assistance generally is accounted for in a Special Revenue Fund.
Title: 2
Accounting Policies: Uses the modified accrual basis of accounting for Governmental Fund types.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
1. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types and Expendable Trust Funds are accounted for using a current financial resources measurement focus. All Federal grant funds were accounted for in a Special Revenue Fund, which is a Governmental Fund type. With this measurement focus, only current assets, current liabilities, and fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in net current assets.
Title: 2
Accounting Policies: Uses the modified accrual basis of accounting for Governmental Fund types.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
The modified accrual basis of accounting is used for the Governmental Fund types, the Expendable Trust Funds, and Agency Funds. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
Title: 2
Accounting Policies: Uses the modified accrual basis of accounting for Governmental Fund types.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and accordingly, when such funds are received, they are recorded as deferred revenues until earned.
Title: 3
Accounting Policies: Uses the modified accrual basis of accounting for Governmental Fund types.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
1. The period of availability for Federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 30 days beyond the project period ending date, in accordance with provisions in the Uniform Guidance.
Title: 4
Accounting Policies: Uses the modified accrual basis of accounting for Governmental Fund types.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
1. The CFDA number for commodity assistance is the CFDA number of the program under which the USDA donated the commodities.