Notes to SEFA
Accounting Policies: Expenditures and receipts reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or not be allowable or may be limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the nonnal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The district has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.