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 in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reports as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The School District has not elected to sue the 10-percent de minimum indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of the School District 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 Adminstrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School District.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reports as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The School District has not elected to sue the 10-percent de minimum indirect cost rate allowed under Uniform Guidance.
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reports as expenditures in prior years.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reports as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The School District has not elected to sue the 10-percent de minimum indirect cost rate allowed under Uniform Guidance.
The School District has not elected to sue the 10-percent de minimum indirect cost rate allowed under Uniform Guidance.
Title: Noncash Awards
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reports as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The School District has not elected to sue the 10-percent de minimum indirect cost rate allowed under Uniform Guidance.
Donated commodities of $1,459,203 are included in the national school lunch program.