Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs charged
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of Ennis Independent School DIstrict (“the District”) and is presented on the accrual basis of accounting. The information in the 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 operation of the District, it is not intended to and does not present the financial position, changes in net assets, and cash flows of the District.
Title: Commitments and Contingencies
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Subpart E of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs charged
Federal grants received by the District are subject to review and audit by grantor agencies. The District’s management believes that the results of such audits will not have a material effect on the Schedule.