Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the modified accrualbasis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Basis of Presentation. The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federalaward activity of the Marion County District School Board under programs of the Federal government for the fiscal yearended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements forFederal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of theDistrict, it is not intended to and does not present the financial position, changes in net position, or cash flows of theDistrict.
Title: Noncash Assistance
Accounting Policies: Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the modified accrualbasis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
National School Lunch Program - Includes $1,751,691 of donated food received during the fiscal year. Donated foodsare valued at fair value as determined at the time of donation.