Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cheyenne Mountain School District 12 has elected not to use the 10 percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of Cheyenne Mountain School District 12 under programs of the federal government for the year
ended June 30, 2023. The information in this 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). Because the Schedule presents only a
selected portion of the operations of Cheyenne Mountain School District 12, it is not intended to and does not
present the financial position, changes in net position, or cash flows of Cheyenne Mountain School District
12.
Title: NON-CASH ASSISTANCE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Cheyenne Mountain School District 12 has elected not to use the 10 percent de minimis indirect cost rate
allowed under the Uniform Guidance.
During the year end June 30, 2023, Cheyenne Mountain School District 12 received $48,231 in non-cash
assistance in the form of food commodities. Valuation of commodities is based on fair market value at the
time of receipt.