Notes to SEFA
Accounting Policies: The accompanying LEA Schedule of Federal Awards is presented using the modified cash basis of accounting, which is described in Note 1 to the District's financial statements. 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: For the year ended June 30, 2024, the District elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance, had no sub-recipients, had no federally provided insurance in effect, and had no loans or loan guarantees outstanding.