Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards is a summary of the activity of the District's federal award programs and presents transactions that are included in the financial statements of the District, as required by accounting principles generally accepted in the United States of America. 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data provided. Skaneateles Central School District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance, as the District has an annual negotiated indirect cost rate with the New York State Education Department.
The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by the Skaneateles Central School District (the District), which is described in Note 1 to the District’s accompanying financial statements. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. CFDA numbers and pass-through numbers are provided, when available.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards is a summary of the activity of the District's federal award programs and presents transactions that are included in the financial statements of the District, as required by accounting principles generally accepted in the United States of America. 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data provided. Skaneateles Central School District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance, as the District has an annual negotiated indirect cost rate with the New York State Education Department.
Federal awards may be subawarded to other governmental or nonprofit organizations, called subrecipients. A subrecipient is defined in 2 CFR section 200.1 as an entity, usually but not limited to non-Federal entities, that receives a subaward from a pass-through entity to carry out part of Federal award; but does not include an individual that is beneficiary of such award. The District did not provide any subawards to subreceipients for the year ended June 30, 2024.
Title: Food Distribution
Accounting Policies: The accompanying schedule of expenditures of federal awards is a summary of the activity of the District's federal award programs and presents transactions that are included in the financial statements of the District, as required by accounting principles generally accepted in the United States of America. 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.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data provided. Skaneateles Central School District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance, as the District has an annual negotiated indirect cost rate with the New York State Education Department.
The District is the recipient of a federal award program that does not result in cash receipts or disbursements. The District was granted approximately $26,572 of commodities under the National School Lunch Program (CFDA 10.555).