Notes to SEFA
Title: Non-Monetary Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the modified accrual basis of accounting for all federal awards charged to governmental funds and on the accrual basis of accounting for all federal awards charged to proprietary funds,
as contemplated by accounting principles generally accepted in the United States of America.
De Minimis Rate Used: N
Rate Explanation: The District did not charge any indirect costs to any of their federal grants and programs during this fiscal year. As such, the District has not elected to use the 10 de minimus indirect cost rate allowed under the Uniform Guidance.
The District received non-monetary assistance from the U.S. Department of Agriculture ("USDA") of $51,127 in the form of commodities. These commodities are valued at the USDA's approximate costs. During the 2022-2023 fiscal year, the District used $53,776 in commodities and established a year-end inventory of $1,234 at June 30, 2023. The amount recognized as revenue in the schedule of expenditures of federal awards, under the USDA heading, represents the commodities used versus the commodities recieved, which are are recognized as revenue in the basic financial statments.
Title: IDEA Revenue Passed Through Colonial Intermediate Unit 20
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the modified accrual basis of accounting for all federal awards charged to governmental funds and on the accrual basis of accounting for all federal awards charged to proprietary funds,
as contemplated by accounting principles generally accepted in the United States of America.
De Minimis Rate Used: N
Rate Explanation: The District did not charge any indirect costs to any of their federal grants and programs during this fiscal year. As such, the District has not elected to use the 10 de minimus indirect cost rate allowed under the Uniform Guidance.
IDEA federal revenue passed through the Colonial Intermediate Unit 20 in the amount of 252 818 has been reported as local revenue in the financial statements.