Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying schedule of expenditures of federal awards includes federal grant activity ofRegional School District No. 17 (the District), under programs of the federal government for theyear ended June 30, 2022. The information in the Schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance).Because the Schedule presents only a selected portion of the operations of the District, it is notintended to, and does not, present the financial position, changes in fund balance, changes innet position or cash flows of the District.Basis of AccountingExpenditures reported on the Schedule are reported using the modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance for all awards with exception of Federal Assistance Listing #21.019, whichfollows criteria determined by the Department of Treasury for allowability of costs. Under theseprinciples certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.