Notes to SEFA
Title: Note 1 - Basis of Accounting
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm
Community Schools’ financial statements. Yelm Community Schools 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: Yelm Community Schools has not elected to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools
used the federal restricted rate of 4.54% and the federal unrestricted rate of
14.02%.
This Schedule is prepared on the same basis of accounting as the Yelm
Community Schools’ financial statements. Yelm Community Schools 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: Note 2 - Federal De Minimis Indirect Rate
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm
Community Schools’ financial statements. Yelm Community Schools 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: Yelm Community Schools has not elected to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools
used the federal restricted rate of 4.54% and the federal unrestricted rate of
14.02%.
Yelm Community Schools has not elected to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools
used the federal restricted rate of 4.54% and the federal unrestricted rate of
14.02%.
Title: Note 3 - Program Costs/Matching Contributions
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm
Community Schools’ financial statements. Yelm Community Schools 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: Yelm Community Schools has not elected to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools
used the federal restricted rate of 4.54% and the federal unrestricted rate of
14.02%.
The amounts shown as current year expenses represent only the federal award
portion of the program costs. Entire program costs, including the Yelm
Community Schools’ local matching share, may be more than shown. 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, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
Title: Note 4 - Noncash Awards
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm
Community Schools’ financial statements. Yelm Community Schools 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: Yelm Community Schools has not elected to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools
used the federal restricted rate of 4.54% and the federal unrestricted rate of
14.02%.
The amount of food commodities reported on the schedule ($168,824.18) is the
value of commodities distributed by Yelm Community Schools during the current
year and priced as prescribed by USDA.
The amount of COVID-19 test kits reported on the schedule ($5,325) is the value
of test kits distributed by Yelm Community Schools during the current year and
priced as prescribed by fair market value.
Title: Note 5 - Schoolwide Programs
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm
Community Schools’ financial statements. Yelm Community Schools 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: Yelm Community Schools has not elected to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools
used the federal restricted rate of 4.54% and the federal unrestricted rate of
14.02%.
Yelm Community Schools operates a “schoolwide program” in all six elementary
buildings. 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 Yelm Community Schools in its schoolwide program: Title I
(84.010) $1,099,120.61.
Title: Note 6 - Transferability
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm
Community Schools’ financial statements. Yelm Community Schools 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: Yelm Community Schools has not elected to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools
used the federal restricted rate of 4.54% and the federal unrestricted rate of
14.02%.
As allowed by federal regulations, Yelm Community Schools elected to transfer
program funds. The district expended $80,325 from Title 4, Part A (84.424) on
allowable activities of Title 2, Part A (84.367). This amount is reflected in the
expenditures of Title 2, Part A (84.367).