Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Benton Community Consolidated School District No. 47 and is presented on the Governmnet Auditing Standard Basis of Accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Basic financial statements.
Title: Indirect Facilities & Administration costs
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Auditee elected to use 10% de minimis cost rate?
Title: Non-Cash Assistance
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The following amounts were expended in the form of non-cash assistance by BCCSD #47 and should be included in the Schedule of Expenditures of Federal Awards: