Notes to SEFA
Title: A. BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting
described in Note 1 to the District’s financial statement. 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: The District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Halstead-Bentley Unified School District No. 440, Halstead, Kansas (District) 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 the District, it is not intended to and does not present the
financial position of the District. The Schedule is presented using a regulatory basis of accounting
prescribed by the Kansas Municipal Audit and Accounting Guide (as described in Note 1 to the
financial statement), which is the same basis of accounting as the financial statement
accompanying this schedule.
Title: B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting
described in Note 1 to the District’s financial statement. 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: The District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the regulatory basis of accounting
described in Note 1 to the District’s financial statement. 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.
Title: C. INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting
described in Note 1 to the District’s financial statement. 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: The District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.