Notes to SEFA
Title: Note 3 – Noncash Awards
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Mabton School District's financial statements. The Mabton 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 Mabton School District used the federal restricted/unrestricted rate of 4.35%, 6.93%, 18%, or 22.21% as prescribed by the grant.
The Mabton School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount of food commodities reported on the schedule is the value of commodities distributed by the School District during the year and priced as prescribed by the USDA.
Title: Note 4 – Program Costs
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Mabton School District's financial statements. The Mabton 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 Mabton School District used the federal restricted/unrestricted rate of 4.35%, 6.93%, 18%, or 22.21% as prescribed by the grant.
The Mabton 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 expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Mabton School District’s portion, are more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the 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.