Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting.
Such expenditures are recognized following 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 (Uniform Guidance), wherein certain types of expenditures may
or may not be allowable or may be limited as to reimbursement. The District has not elected to
use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School District does not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
award activity of Aurora School District No. 504 (the District) under programs of the federal
government for the year ended August 31, 2023. The information on this Schedule is prepared in
accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Because the Schedule presents only a selected portion of the operations of the District,
it is not intended to and does not present the financial position, changes in net assets, or cash
flows of the District.
Title: FOOD DONATION PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting.
Such expenditures are recognized following 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 (Uniform Guidance), wherein certain types of expenditures may
or may not be allowable or may be limited as to reimbursement. The District has not elected to
use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School District does not use the de minimis cost rate.
The District reports commodities consumed on the Schedule at fair value. The District allocated
donated food commodities to the school nutrition program that benefitted from the use of those
donated food commodities.
Title: PASS-THROUGH SUB-RECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting.
Such expenditures are recognized following 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 (Uniform Guidance), wherein certain types of expenditures may
or may not be allowable or may be limited as to reimbursement. The District has not elected to
use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School District does not use the de minimis cost rate.
The District did not pass-through any federal awards to sub-recipients.