Notes to SEFA
Title: 4. NONCASH ASSISTANCE
Accounting Policies: 1. BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the District for the year ended June 30, 2023, and is presented on the modified cash basis of accounting as described below. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position or cash flows of the District. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are reported on the modified cash basis of accounting which is described in Note 1 to the District's financial statements. 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: 3. INDIRECT COST RATE The District elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Commodities received and expended are valued by the Food Service Section of the Department of Elementary and Secondary Education. Noncash equipment received and expended through the Emergency Connectivity Fund Program were valued based on actual cash expended by the pass-through grantor.