Notes to SEFA
Title: Note 2
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10% de minimis indirect cost rate.
Extensive compliance tests, as required by the Uniform Guidance, were performed on the Title I Grants to LEAs and Education Stabilization Fund, which represent 53.27% of the total expenditures reflected on the Schedule of Expenditures of Federal Awards. The Title I Grants to LEAs and Education Stabilization Fund programs exceeded $620,030 and, therefore, represent the programs which the specific compliance requirements must be applied.
Title: Note 3
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10% de minimis indirect cost rate.
The commodities are valued at market value, which respresent the cost to replace these commodities.
Title: Note 5
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10% de minimis indirect cost rate.
Medical Assistance Reimbursements-The School District had a 152,455 receivable for the ACCESS program as of June 30, 2022. During the current year, the School District received $0 for the ACCESS program. The ACCESS program is the medical assistance (MA) program that reimburses school entities for direct, eligible health-related services provided to MA enrolled, special needs children. THese reimbursements are classified as federal money in the School District's account code structure; however, these funds are not restricted in use like other federal monies. ACCESS reimbursements are classified as fee-for-service revenues, and are not considered federal financial assistance, which results in ACCESS funds not being reported on the School District's Schedule of Expenditures of Federal Awards. Expenditures totaling $64,327 were recognized in the current year. As a result, as of June 30, 2023, the School District had a $216,782 receivable for the ACCESS program.
Title: Note 6
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10% de minimis indirect cost rate.
The beginning of the year accrued (deferred) revenue for the following programs was restated as follows: