Notes to SEFA
Title: NOTE 3 - PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Bainbridge Island School District's financial statements. The Bainbridge Island 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 has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Instead the district utilized the federal restricted rate of 2.4%.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the district's portion, may be more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State and Local 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 - NON CASH AWARDS - FOOD COMMODITIES
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Bainbridge Island School District's financial statements. The Bainbridge Island 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 has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Instead the district utilized the federal restricted rate of 2.4%.
The amount of food commodities reported on the schedule is the value of commodities distributed by the Bainbridge Island School District during the current year and priced as prescribed by the USDA.
Title: NOTE 5 - TRANSFERABILITY
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Bainbridge Island School District's financial statements. The Bainbridge Island 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 has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Instead the district utilized the federal restricted rate of 2.4%.
As allowed by federal regulations, the district elected to transfer program funds. The district expended $10,000 from its Title IV Part A - Student Support & Academic Enrichment Grant (84.424) on allowable activities of the Title 1, Part A Grants to Local Educational Agencies (84.010). This amount is reflected in the expenditures of Title 1, Part A Grants to Local Educational Agencies (84.010).