Notes to SEFA
Title: Food Distribution
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Willard R-II School District and is presented on the modified cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The district elected not to use the 10% de minimus indirect cost rate.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. At June 30, 2024, the district had food commodities totaling $56,358 in inventory.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Willard R-II School District and is presented on the modified cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The district elected not to use the 10% de minimus indirect cost rate.
The district did not provide federal awards to subrecipients.