Notes to SEFA
Title: Note 1 – Basis of Accounting
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Stanwood-Camano School District financial statements. The Stanwood-Camano School District uses the
modified accrual basis of accounting. Expenditures represent only the federally funded portions of the
program. District records should be consulted to determine amounts expended or matched from nonfederal
sources.
De Minimis Rate Used: N
Rate Explanation: The Stanwood-Camano School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance. The Stanwood-Camano School District used the federal restricted rate
of 4.0% or 3.26%, or the federal unrestricted rate of 15.08% or 12.29%, whichever was applicable to the
individual federal award.
The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Stanwood-Camano School District financial statements. The Stanwood-Camano School District uses the
modified accrual basis of accounting. Expenditures represent only the federally funded portions of the
program. District records should be consulted to determine amounts expended or matched from nonfederal
sources.
Title: Note 2 – Federal De Minimis Indirect Cost Rate
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Stanwood-Camano School District financial statements. The Stanwood-Camano School District uses the
modified accrual basis of accounting. Expenditures represent only the federally funded portions of the
program. District records should be consulted to determine amounts expended or matched from nonfederal
sources.
De Minimis Rate Used: N
Rate Explanation: The Stanwood-Camano School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance. The Stanwood-Camano School District used the federal restricted rate
of 4.0% or 3.26%, or the federal unrestricted rate of 15.08% or 12.29%, whichever was applicable to the
individual federal award.
The Stanwood-Camano School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance. The Stanwood-Camano School District used the federal restricted rate
of 4.0% or 3.26%, or the federal unrestricted rate of 15.08% or 12.29%, whichever was applicable to the
individual federal award.
Title: Note 3 – Noncash Awards
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Stanwood-Camano School District financial statements. The Stanwood-Camano School District uses the
modified accrual basis of accounting. Expenditures represent only the federally funded portions of the
program. District records should be consulted to determine amounts expended or matched from nonfederal
sources.
De Minimis Rate Used: N
Rate Explanation: The Stanwood-Camano School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance. The Stanwood-Camano School District used the federal restricted rate
of 4.0% or 3.26%, or the federal unrestricted rate of 15.08% or 12.29%, whichever was applicable to the
individual federal award.
The amount of commodities reported on the Schedule is the value of commodities received by the
Stanwood-Camano School District during current year and priced as prescribed by the U.S. Department of
Agriculture.
Title: Note 4 - Transferability
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Stanwood-Camano School District financial statements. The Stanwood-Camano School District uses the
modified accrual basis of accounting. Expenditures represent only the federally funded portions of the
program. District records should be consulted to determine amounts expended or matched from nonfederal
sources.
De Minimis Rate Used: N
Rate Explanation: The Stanwood-Camano School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance. The Stanwood-Camano School District used the federal restricted rate
of 4.0% or 3.26%, or the federal unrestricted rate of 15.08% or 12.29%, whichever was applicable to the
individual federal award.
As allowed by federal regulations, the Stanwood-Camano School District elected to transfer program funds.
The district expended $68,118 from Title IV, Student Support and Academic Enrichment Program (84.424)
on allowable activities of the Title II, Part A Supporting Effective Instruction State Grants (84.367). This
amount is reflected on the Schedule in the expenditures of Title II, Part A Supporting Effective Instruction
State Grants (84.367).
Title: Note 5 – Donated Test Kits (due to COVID-19)
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Stanwood-Camano School District financial statements. The Stanwood-Camano School District uses the
modified accrual basis of accounting. Expenditures represent only the federally funded portions of the
program. District records should be consulted to determine amounts expended or matched from nonfederal
sources.
De Minimis Rate Used: N
Rate Explanation: The Stanwood-Camano School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance. The Stanwood-Camano School District used the federal restricted rate
of 4.0% or 3.26%, or the federal unrestricted rate of 15.08% or 12.29%, whichever was applicable to the
individual federal award.
The Stanwood-Camano School District received donated test kits with a fair market value of $23,250.00.