Notes to SEFA
Title: NOTE 3—PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING: This Schedule is prepared on the same basis of accounting as the Franklin Pierce School District's financial statements. The District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE: The District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District used the federal restricted rate of 3.52%
The amounts shown as current year expenses represent only the federal award portion of the program costs. Entire program costs, including the District’s local matching share, may be more than shown. 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 are not allowable or are limited as to reimbursement.
Title: NOTE 4—NONCASH AWARDS
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING: This Schedule is prepared on the same basis of accounting as the Franklin Pierce School District's financial statements. The District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE: The District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District used the federal restricted rate of 3.52%
The $461,731 of commodities reported on the schedule for CFDA #10.555 is the market value of commodities received by the District during the current year. The value is determined by the USDA.
Title: NOTE 5—SCHOOLWIDE PROGRAMS
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING: This Schedule is prepared on the same basis of accounting as the Franklin Pierce School District's financial statements. The District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE: The District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District used the federal restricted rate of 3.52%
The District operates a “schoolwide program” in five secondary buildings. Using federal funding, schoolwide programs are designed to upgrade an entire educational program within a school for all students, rather than limit services to certain targeted students. The following federal program amounts were expended by the District in its schoolwide program: Title I (84.010) $3,203,610.