Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: See form tab
De Minimis Rate Used: N
Rate Explanation: See form tab
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Ralph C. Mahar Regional School District (the School District) under programs of the federal government for the year ended June 30, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Fe0deral 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 of the School District.
Title: Note 2 - Summary Of Significant Accounting Policies
Accounting Policies: See form tab
De Minimis Rate Used: N
Rate Explanation: See form tab
Expenditures reported on the Schedule are reported on the modified accrual 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 to reimbursement.
The amounts reported for the National School Lunch Program – Non-Cash Assistance represent the fair value of commodities received.
Title: Note 3 - De Minimis Cost Rate
Accounting Policies: See form tab
De Minimis Rate Used: N
Rate Explanation: See form tab
The School District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note 4 - Donated Personal Protective Equipment (PPE) (Unaudited)
Accounting Policies: See form tab
De Minimis Rate Used: N
Rate Explanation: See form tab
During fiscal year 2023, the School District did not receive donated PPE from federal sources.
Title: Note 5 - Subrecipients
Accounting Policies: See form tab
De Minimis Rate Used: N
Rate Explanation: See form tab
Of the federal expenditures presented in the Schedule, the School District did not provide federal awards to subrecipients.