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
Uniform Guidance, wherein certain types of expenditures may or may not be allowable
or may be limited as to reimbursement. The District has elected not 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 Columbus Public Schools District No. 1 (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 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: SUBRECIPIENTS
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
Uniform Guidance, wherein certain types of expenditures may or may not be allowable
or may be limited as to reimbursement. The District has elected not 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.
There are no subrecipients to the federal awards of the District.
Title: FOOD DISTRIBUTION
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
Uniform Guidance, wherein certain types of expenditures may or may not be allowable
or may be limited as to reimbursement. The District has elected not 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.
Nonmonetary assistance is reported in the schedule at fair market value of the
commodities received and disbursed.