Notes to SEFA
Title: Noncash Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: South Burlington School District has not elected to use the 10 percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
The South Burlington School District reports U.S. Department of Agriculture
(USDA) Foods consumed on the Schedule at the fair value [or entitlement value]. The
State of Vermont allocated USDA Foods to the respective program(s) that benefitted from
the use of those USDA Foods.