Notes to SEFA
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) utilizes the
modified accrual method of accounting for reporting of federal expenditures. 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). Therefore, some amounts presented in
this Schedule may differ from amounts presented in, or used in the preparation of, the basic
financial statements.
Basis of Accounting
Expenditures reported on the Schedule are reported on the 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 to reimbursement.
Schedule of Expenditures of Federal Awards
The accompanying Schedule presents the activity of all federal financial assistance programs of
the District. The Schedule includes federal awards received directly from federal agencies, as
well as federal financial assistance passed through other agencies. Because the Schedule presents
only a selected portion of the operations of the District, it is not intended to, and does not, present
the operations of the District as a whole.
Cost Rate
The District does not elect to use the 10% de minimus cost rate.
De Minimis Rate Used: N
Rate Explanation: The District does not elect to use the 10% de minimus cost rate.