Notes to SEFA
Title: NOTE 3—PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING
This Schedule is prepared on the same basis of accounting as the Inchelium School District’s financial statements. The Inchelium School District uses the cash 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 non-federal sources.
De Minimis Rate Used: N
Rate Explanation: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
The Inchelium School District used the federal restricted rate of 9.66%, The Inchelium School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenses represent only the federal award portion of the program costs. Entire program costs, including the Inchelium School District’s local matching share, may be more than shown. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 4—NONCASH AWARDS
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING
This Schedule is prepared on the same basis of accounting as the Inchelium School District’s financial statements. The Inchelium School District uses the cash 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 non-federal sources.
De Minimis Rate Used: N
Rate Explanation: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
The Inchelium School District used the federal restricted rate of 9.66%, The Inchelium School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount of $12,376.43 reported on the schedule is the value of commodities distributed by the Inchelium School District during the current year and priced as perscribed by the Department of Agriculture.
Title: NOTE 5—SMALL RURAL SCHOOLS ACCHIEVEMENTS (SRSA)
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING
This Schedule is prepared on the same basis of accounting as the Inchelium School District’s financial statements. The Inchelium School District uses the cash 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 non-federal sources.
De Minimis Rate Used: N
Rate Explanation: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
The Inchelium School District used the federal restricted rate of 9.66%, The Inchelium School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
As allowed by federal regulations, the Inchelium School District expended $19,963.00 from its Small Rural Schools Achievement (SRSA) Program (84.358). This amount is reflected in the expenditures of 84.358.