Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal grant activity of the Red Hook Central School District (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 Administrative 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 or the respective changes in financial position of the governmental activities, each
major fund, and the aggregate remaining fund information of the School District.
Title: PASS-THROUGH PROGRAMS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
Where the School District receives funds from a government entity other than the federal
government (pass-through), the funds are accumulated based upon the Assistance Listing
number advised by the pass-through grantor.
Identifying numbers, other than the Assistance Listing numbers, which may be assigned by
pass-through grantors are not maintained in the School District’s financial management
system. The School District has identified certain pass-through identifying numbers and
included them in the schedule of expenditures of federal awards, as available.
Title: INDIRECT COSTS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
Indirect costs are included in the reported expenditures to the extent they are included in the financial reports used as the source for the expenditures presented.
The School District did not elect to use the 10 percent de-minimis indirect cost rate as allowed under the Uniform Guidance.
Title: MATCHING COSTS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
Matching costs, i.e. the School District’s share of certain program costs, are not included in the reported expenditures.
Title: NON-MONETARY FEDERAL PROGRAM
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with accounting principles
generally accepted in the United States and the amounts presented are derived from the
School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the de minimis cost rate.
The School District is the recipient of a federal financial award program that does not result in cash receipts or disbursements termed a “non-monetary” program. During the year ended June 30, 2023, the School District received food commodities, the fair value of which amounted to $62,104 is presented in the Schedule as National School Lunch Program (Division of Donated Foods, Assistance Listing #10.555).