Notes to SEFA
Title: Note 3
Accounting Policies: Note 1 - This Schedule is prepared on the same basis of accounting as the school district's financial statements. The 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: Note 2 - The district has not elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. The district used the federal restricted rate of 6.55% or the federal unrestricted rate of 12.39% depending upon the federal grant guidelines.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the district's 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
Accounting Policies: Note 1 - This Schedule is prepared on the same basis of accounting as the school district's financial statements. The 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: Note 2 - The district has not elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. The district used the federal restricted rate of 6.55% or the federal unrestricted rate of 12.39% depending upon the federal grant guidelines.
The amount of commodities reported on the schedule is the value of commodities distributed by the school district during the current fiscal year and priced as prescribed by the USDA.