Notes to SEFA
Accounting Policies: Basis of Presentation: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Rio Grande City Grulla Independent School District. The information in this schedule is presented in accordance with the requirements of Title 2 US. 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. Summary of Significant 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 and 0MB Compliance Supplement, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Sub-recipients: For the year ended June 30, 2022, the District had no sub-recipients. Federal Loans and Loan Guarantees: For the year ended June 30, 2022, the District had no outstanding federal loans payable or loan guarantees. Federally Funded Insurance: For the year ended June 30, 2022, the District had no federally funded insurance. Noncash awards: For the year ended June 30, 2022, the District received $688,111 of federal awards in the form of noncash assistance. Indirect Cost Rate: The Uniform Guidance allows an organization to elect a 10% de minimis indirect cost rate. For the year ended June 30, 2022, the District did not elect to use this rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.