Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognied 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 Hardy County Board of Education has elected not to use the 10% deminimus indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards the Schedule) included the federal award activity of the Hardy 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, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule represents only the selected portion of the operation of Hardy County Board of Education, it is not intended to and does not present the financial position and changes in net position of the Hardy County Board of Education.
Title: Donated Food Commodities Value
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognied 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 Hardy County Board of Education has elected not to use the 10% deminimus indirect cost rate allowed under the Uniform Guidance.
Donated food 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 established by the U.S. Department of Agriculture.
Title: Schools and Roads - Grants to States
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognied 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 Hardy County Board of Education has elected not to use the 10% deminimus indirect cost rate allowed under the Uniform Guidance.
Schools and Roads - Grants to States AL # 10.665 Program expenditures of federal awards is based on the amount of the federal funds received. The revenues may be used for various purposes which are part of the general expenditures of the Board of Education. As a result, the total amount of federal revenues received are presumed to be expended during the fiscal year.
Title: Assistance Listing (Catalog of Federal Domestic Assistance (CFDA)
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognied 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 Hardy County Board of Education has elected not to use the 10% deminimus 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 accrual basis of accounting. Such expenditures are recognied 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 Hardy County Board of Education has elected not to use the 10% deminimus indirect cost rate allowed under the Uniform Guidance.
There were no awards passed-through to subrecipients.