Notes to SEFA
Title: Note 1
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual or accrual basis of
accounting. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred. 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.
Negative amounts shown on the schedule represent adjustments or credits made in the normal course of
business to amounts reported as expenditures in prior years. Revenue from federal awards is recognized
when the District has done everything necessary to establish its right to revenue. For governmental
funds, revenue from federal awards is recognized when it is both measurable and available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “schedule”) includes the federal grant
activity of Black Hawk Area Special Education District S.E.J.A. No. 865 under programs of the federal
government for the year ended June 30, 2024. 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 Black Hawk Area
Special Education District S.E.J.A. No. 865, it is not intended to and does not present the financial
position, changes in net position or cash flows of Black Hawk Area Special Education District S.E.J.A. No.
865.
Title: Note 2
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual or accrual basis of
accounting. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred. 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.
Negative amounts shown on the schedule represent adjustments or credits made in the normal course of
business to amounts reported as expenditures in prior years. Revenue from federal awards is recognized
when the District has done everything necessary to establish its right to revenue. For governmental
funds, revenue from federal awards is recognized when it is both measurable and available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the schedule are reported on the modified accrual or accrual basis of
accounting. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred. 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.
Negative amounts shown on the schedule represent adjustments or credits made in the normal course of
business to amounts reported as expenditures in prior years. Revenue from federal awards is recognized
when the District has done everything necessary to establish its right to revenue. For governmental
funds, revenue from federal awards is recognized when it is both measurable and available
Title: Note 3
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual or accrual basis of
accounting. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred. 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.
Negative amounts shown on the schedule represent adjustments or credits made in the normal course of
business to amounts reported as expenditures in prior years. Revenue from federal awards is recognized
when the District has done everything necessary to establish its right to revenue. For governmental
funds, revenue from federal awards is recognized when it is both measurable and available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.