Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Federal program expenditures included in the accompanying schedule are presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the 10 percent de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards includes federal grant activity of Sheridan County School District #2 (the District). The District receives federal awards both directly from federal agencies and indirectly through pass-through entities.
Title: Summary of Significant Accounting Policies
Accounting Policies: Federal program expenditures included in the accompanying schedule are presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the 10 percent de minimis indirect cost rate.
Federal program expenditures included in the accompanying schedule are presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
Title: Indirect Cost Rate
Accounting Policies: Federal program expenditures included in the accompanying schedule are presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the 10 percent de minimis indirect cost rate.
The District has not elected to utilize the 10 percent de minimis indirect cost rate.
Title: Subrecipients
Accounting Policies: Federal program expenditures included in the accompanying schedule are presented on the modified accrual basis of accounting. The information in the schedule is presented in accordance with requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to utilize the 10 percent de minimis indirect cost rate.
The District did not pass any portion of federal awards to subrecipients.