Notes to SEFA
Title: NOTE 1—BASIS OF ACCOUNTING
Accounting Policies: This Schedule is prepared on the same basis of
accounting as the Ocosta School District’s financial statements. The Ocosta 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: The Ocosta School District has not
elected to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance. The Ocosta School District used the federal rate of 2.32%.
This Schedule is prepared on the same basis of
accounting as the Ocosta School District’s financial statements. The Ocosta 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.
Title: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
Accounting Policies: This Schedule is prepared on the same basis of
accounting as the Ocosta School District’s financial statements. The Ocosta 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: The Ocosta School District has not
elected to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance. The Ocosta School District used the federal rate of 2.32%.
The Ocosta School District has not
elected to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance. The Ocosta School District used the federal rate of 2.32%.
Title: NOTE 3—NONCASH AWARDS
Accounting Policies: This Schedule is prepared on the same basis of
accounting as the Ocosta School District’s financial statements. The Ocosta 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: The Ocosta School District has not
elected to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance. The Ocosta School District used the federal rate of 2.32%.
The amount of commodities reported on the
schedule is the value of commodities distributed by the Ocosta School
District during the current year and priced as prescribed by OSPI and
USDA.
Title: NOTE 4—SCHOOLWIDE PROGRAMS
Accounting Policies: This Schedule is prepared on the same basis of
accounting as the Ocosta School District’s financial statements. The Ocosta 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: The Ocosta School District has not
elected to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance. The Ocosta School District used the federal rate of 2.32%.
The Ocosta School District operates
a “schoolwide program”. Using federal funding, schoolwide programs are
designed to upgrade an entire educational program within a school for all
students, rather than limit services to certain targeted students. The
following federal program amounts were expended by the (district) in its
schoolwide program: Title I (84.010) $ 220,941; Migrant Education (84.011)
$ 15,376.