Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPALS CONTAINED IN THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWED OR ARE LIMITED AS TO REIMBURSEMENT. NEGATIVE AMOUNTS SHOWN ON THE SCHEDULE REPRESENT ADJUSTMENTS OR CREDITS MADE IN THE NORMAL COURSE OF BUSINESS TO AMOUNTS REPORTED AS EXPENDITURES IN PRIOR YEARS. PASS THROUGH ENTITY IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE. THE PELLSTON PUBLIC SCHOOLS HAS ELECTED TO USE THE DE MINIMUM INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
De Minimis Rate Used: Y
Rate Explanation: THE DISTRICT USES THE DE MINIMIS COST RATE OF 10%
The information in the schedule is presented in accordance with the requirements of title 2 US Code of Federal Regulations Part 200 Uniform Administrative Requirements cost principals and audit requirements for federal awards also known as the Uniform Guidance
Title: RELATIONSHIP TO THE FUND FINANCIAL STATEMENTS
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPALS CONTAINED IN THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWED OR ARE LIMITED AS TO REIMBURSEMENT. NEGATIVE AMOUNTS SHOWN ON THE SCHEDULE REPRESENT ADJUSTMENTS OR CREDITS MADE IN THE NORMAL COURSE OF BUSINESS TO AMOUNTS REPORTED AS EXPENDITURES IN PRIOR YEARS. PASS THROUGH ENTITY IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE. THE PELLSTON PUBLIC SCHOOLS HAS ELECTED TO USE THE DE MINIMUM INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
De Minimis Rate Used: Y
Rate Explanation: THE DISTRICT USES THE DE MINIMIS COST RATE OF 10%
SEE NOTES TO THE SEFA FOR CHARTS
Title: MICHIGAN DEPARTMENT OF EDUCATION DISCLOSURES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPALS CONTAINED IN THE UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWED OR ARE LIMITED AS TO REIMBURSEMENT. NEGATIVE AMOUNTS SHOWN ON THE SCHEDULE REPRESENT ADJUSTMENTS OR CREDITS MADE IN THE NORMAL COURSE OF BUSINESS TO AMOUNTS REPORTED AS EXPENDITURES IN PRIOR YEARS. PASS THROUGH ENTITY IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE. THE PELLSTON PUBLIC SCHOOLS HAS ELECTED TO USE THE DE MINIMUM INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
De Minimis Rate Used: Y
Rate Explanation: THE DISTRICT USES THE DE MINIMIS COST RATE OF 10%
The amounts reported on the recipient entitlement balance report agree with the schedule of expenditure of the federal awards for the USDA donated food commodities