Notes to SEFA
Title: Food Distribution
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported a expenitures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Fulton County School District has not elected to use the 10-percent de minimus indirect rate allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the Schedule at the fair market value of commodities received and disbursed.