Notes to SEFA
Title: NOTE 1 - SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PREPARED ON THE ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE COMPANY DID NOT CHARGE ANY INDIRECT COSTS TO ANY OF THE FEDERAL GRANTS AND PROGRAMS DURING THIS FISCAL YEAR. CONSEQUENTLY, THE COMPANY DID NOT USE THE 10% DE MINIMIS COST RATE.
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PREPARED ON THE ACCRUAL BASIS OF ACCOUNTING.
Title: NOTE 2 - COMMODITIES
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PREPARED ON THE ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE COMPANY DID NOT CHARGE ANY INDIRECT COSTS TO ANY OF THE FEDERAL GRANTS AND PROGRAMS DURING THIS FISCAL YEAR. CONSEQUENTLY, THE COMPANY DID NOT USE THE 10% DE MINIMIS COST RATE.
THE BEGINNING AND ENDING DEFERRED INCOME FIGURES LISTED REPRESENT THE BEGINNING AND ENDING COMMODITIES INVENTORIES IN THE CAFETERIA FUND. THESE COMMODITIES ARE RECEIVED THROUGH THE STATE FROM THE U.S. DEPARTMENT OF AGRICULTURE. THE COMMODITIES ARE VALUED AT AMOUNTS ASSIGNED TO THE VARIOUS ITEMS BY THE U.S. DEPARTMENT OF AGRICULTURE WHEN THE COMMODITIES ARE OFFERED.
Title: NOTE 3 - INDIRECT COSTS
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PREPARED ON THE ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE COMPANY DID NOT CHARGE ANY INDIRECT COSTS TO ANY OF THE FEDERAL GRANTS AND PROGRAMS DURING THIS FISCAL YEAR. CONSEQUENTLY, THE COMPANY DID NOT USE THE 10% DE MINIMIS COST RATE.
THE COMPANY DID NOT CHARGE ANY INDIRECT COSTS TO ANY OF THE FEDERAL GRANTS AND PROGRAMS DURING THIS FISCAL YEAR. CONSEQUENTLY, THE COMPANY DID NOT USE THE 10% DE MINIMIS COST RATE.
Title: NOTE 4 - CLUSTER PROGRAMS
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PREPARED ON THE ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: THE COMPANY DID NOT CHARGE ANY INDIRECT COSTS TO ANY OF THE FEDERAL GRANTS AND PROGRAMS DURING THIS FISCAL YEAR. CONSEQUENTLY, THE COMPANY DID NOT USE THE 10% DE MINIMIS COST RATE.
THE FOLLOWING CFDA'S HAVE BEEN DEEMED A CLUSTER OF PROGRAMS BY THE OFFICE OF MANAGEMENT AND BUDGET AND, THEREFORE, ARE TREATED AS ONE PROGRAM IN DETERMINING THE MAJOR PROGRAMS TO BE AUDITED. 477 CLUSTER - 93.569 - $383.704. FOOD DISTRIBUTION CLUSTER - 10.568 - $51,255 10.569 - $181,327.