Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of St Paul City School 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 CFR 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 St Paul City School, it is not intended to and does not present the financial position, changes in position, or cash flows of St Paul City School.
De Minimis Rate Used: N
Rate Explanation: The School did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of St Paul City School 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 CFR 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 St Paul City School, it is not intended to and does not present the financial position, changes in position, or cash flows of St Paul City School.
Title: NOTE 2 – INVENTORY
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of St Paul City School 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 CFR 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 St Paul City School, it is not intended to and does not present the financial position, changes in position, or cash flows of St Paul City School.
De Minimis Rate Used: N
Rate Explanation: The School did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the Uniform Guidance.
Inventories of commodities donated by the U.S. Department of Agriculture are recorded at market value in the Food Service Fund as inventory. Revenue and expenditures are recorded when commodities are used.
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of St Paul City School 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 CFR 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 St Paul City School, it is not intended to and does not present the financial position, changes in position, or cash flows of St Paul City School.
De Minimis Rate Used: N
Rate Explanation: The School did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the Uniform Guidance.
The School did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the Uniform Guidance.