Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Elma School District's financial statements. The Elma 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 non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The District used the federal restricted rate of 6.38%. The District has not elected to use the 10-percent de minimis indirect rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Elma School District's financial statements. The Elma 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 non-federal sources.
Title: NONCASH AWARDS
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Elma School District's financial statements. The Elma 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 non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The District used the federal restricted rate of 6.38%. The District has not elected to use the 10-percent de minimis indirect rate allowed under the Uniform Guidance.
The amount of food commodities reported on the schedule is the value of food commodities distributed by the Elma School District during the current year and priced as prescribed by USDA
Title: SCHOOLWIDE PROGRAMS
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Elma School District's financial statements. The Elma 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 non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The District used the federal restricted rate of 6.38%. The District has not elected to use the 10-percent de minimis indirect rate allowed under the Uniform Guidance.
The District operates a "schoolwide program" in its elementary building. Using federal funding, schoolwide programs are designed to upgrade an entire educational program within the school for all students, rather than limit services to certain targeted students. The following federal programs amounts were expended by the Elma School District in its schoolwide Program: Title I (84.010) $459,448.51; Title II Part A (84.367) $12,823.55 ((Medical Assistance Program (K4402-01)) $3,977.66
Title: FEDERAL INDIRECT RATE
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Elma School District's financial statements. The Elma 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 non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The District used the federal restricted rate of 6.38%. The District has not elected to use the 10-percent de minimis indirect rate allowed under the Uniform Guidance.
The District used the federal restricted rate of 6.38%. The District has not elected to use the 10-percent de minimis indirect rate allowed under the Uniform Guidance.