Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedules are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not
allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedules of expenditures of federal awards and state financial assistance include the federal and state grant activity of the Kiel Area School District. The information in these schedules is presented in accordance with the requirements of Uniform Guidance and State Single Audit Guidelines. Therefore, some amounts presented in these schedules may differ from amounts presented in or used in the preparation of the financial statements.
Title: Food Distribution Program
Accounting Policies: Expenditures reported on the schedules are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not
allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Non‐monetary assistance is reported in the schedule of federal awards at the fair market value of the commodities received
and used.