Notes to SEFA
Title: Reconciliation to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Dayton Independent School District and is presented on the modified accrual basis of accounting. The
information in this schedule is presented in accordance with the requirements of Single Audit Act
Amendments of 1996 and Title 2 U.S. Code of Federal Regulations (CFR) 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. Non-cash awards are recorded at their estimated
market value at the time of donation.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform
Guidance.
Presented below is a reconciliation of federal revenues: