Notes to SEFA
Title: Note 3 – Food Distribution
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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 School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
Non-monetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed.
Title: Note 4 – Integrated English Literacy & Civics Education
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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 School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
The School had coded expenditures to this project after the program had terminated in 2022-2023. Therefore, there will not be a beginning receivable for this account.
Title: Note 5 – Federal Emergency Management Agency
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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 School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
This project should not have an ending balance. The school coded expenditures for FEMA, but used a local project code rather than coding to 594. Per the school, the grant is closed out.
Title: Note 6 –Title IV, Part F, Oklahoma School Climate Transformation
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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 School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
Actual beginning receivable was $779. Adjusted beginning receivable to $779.
Title: Note 7 –Donated PPE
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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 School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
The school reported they did not receive any federally funded personal protective equipment (PPE).