Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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: Oelrichs School District No. 23‐3 does not 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 Oelrichs School District No. 23‐3 under programs of the federal government for the year ended
June 30, 2023. 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 School District, it is not intended to and does not present the financial position,
changes in net position, or cash flows of the School District.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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: Oelrichs School District No. 23‐3 does not use the 10‐percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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: Oelrichs School District No. 23‐3 does not use the 10‐percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
Oelrichs School District No. 23‐3 does not use the 10‐percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
Title: Federal Reimbursements
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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: Oelrichs School District No. 23‐3 does not use the 10‐percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
Federal reimbursements are not based upon specific expenditures. Therefore, the amounts reported here
represent cash received rather than federal expenditures.