Notes to SEFA
Title: SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Accounting Policies: THE SEFA INCLUDES THE FEDERAL GRANT ACTIVITY OF THE SCHOOL DISTRICT UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED AUGUST 31, 2024. THE INFORMATION IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS (CFR) PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). EXPENDITURES ARE REPORTED ON THE CASH BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING 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 SCHOOL DISTRICT ELECTED NOT TO USE THE TEN-PERCENT DE MINIMIS INDIRECT COST RATE. THEY USE THE APPROVED INDIRECT COST RATE ASSIGNED BY THE NEBRASKA DEPARTMENT OF EDUCATION.
The accompanying Schedule of Expenditures of Federal Awards includes the federal
grant activity of the School District under programs of the federal government for the
year ended August 31, 2024. The information in this schedule is presented in
accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR)
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, it is not intended to and does not
present the financial position, changes in net position or cash flows of the School
District. Expenditures reported on the schedule are reported on the cash basis of accounting.
Such expenditures are recognized following cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
The following summary reconciles the Schedule of Expenditures of Federal Awards
with the Statement of Receipts, Disbursements, and Changes in Fund Balances –
Cash Basis – Governmental Funds: (SEE THE NOTES TO THE SEFA FOR CHART/TABLE). The School District has elected not to use the ten-percent de minimis indirect cost
rate.