Notes to SEFA
Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis 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. Negative amounts
shown on the schedule represents adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented
where available.
De Minimis Rate Used: N
Rate Explanation: The Jackson County School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Jackson County School District under the programs of the federal government for the year ended June
30, 2023. 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 for Federal Awards, (Uniform Guidance). Because the schedule presents only a
selected portion of the operations of the Jackson County School District, it is not intended to and does not
present the financial position, changes in net position or cash flows of the District.
Title: NOTE B – SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis 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. Negative amounts
shown on the schedule represents adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented
where available.
De Minimis Rate Used: N
Rate Explanation: The Jackson County School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Expenditures reported on the schedule are reported on the accrual basis 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. Negative amounts
shown on the schedule represents adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented
where available.
Title: NOTE C – FOOD DISTRIBUTION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis 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. Negative amounts
shown on the schedule represents adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented
where available.
De Minimis Rate Used: N
Rate Explanation: The Jackson County School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the schedule at the fair value of the commodities received and
disbursed. For the year ended June 30, 2023, the District received food commodities totaling $109,378.
Title: NOTE D – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis 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. Negative amounts
shown on the schedule represents adjustments or credits made in the normal course of business to
amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented
where available.
De Minimis Rate Used: N
Rate Explanation: The Jackson County School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The Jackson County School District has not elected to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.