Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Monongalia County Board of Education has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Monongalia County Board of Education 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 for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Mononglia County Board of Education, it is not intended to and does not present the financial postion and changes in the net postion of the Monongalia County Board of Education.
Title: Donated Food Commodities Value
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Monongalia County Board of Education has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Donated fodd commodities represent surplus agricultural commodities received from the U.S. Department of Agriculture (AL # 10.555) passed-through from the West Virginia Department of Agriculture. Commodities are valued based on amounts as establised by the U.S. Department of Agriculture. For the year ended June 30, 2023, total expenditures were $362,737.
Title: Student Financial Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Monongalia County Board of Education has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The Federal Pell Grant Program (AL #84.063) expenditures of federal awards is based on the amount of federal funds received. The revenues are based on reimbursements made as a result of the total amount of federal revenues received and are presumed to be expended during the fiscal year.
Title: Assisance Listing (Catalog of Federal Domestic Assistance (CFDA)
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Monongalia County Board of Education has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Assistance Listing (AL) has replaced the Catalog of Federal Domestic Assistance (CFDA) for identifying federal programs.
Title: Pass-through to Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accural basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Monongalia County Board of Education has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
There were no awards passed-through to subrecipients.