Notes to SEFA
Title: Note 3 - NONCASH AWARDS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Oak Harbor School District’s financial statements. The Oak Harbor School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Oak Harbor School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount of commodities reported on the schedule is the value of commodities distributed by the Oak Harbor School District during the current year and priced as prescribed by USDA.
The District received donated PPE with a Fair Market Value of $5,700 for 1,140 Learn to Return Test Kits
received.
Title: Note 4 - PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Oak Harbor School District’s financial statements. The Oak Harbor School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Oak Harbor School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Oak Harbor School District’s local matching share, may be more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements wherein certain types of expenditures are not allowable or are limited as to reimbursement.