Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: THE SEFA IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: N/A
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF ALLENDALE COUNTY SCHOOL DISTRICT AND IS PRESENTED ON THE ACCRUAL BASIS. 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. THEREFORE, SOME AMOUNTS PRESENTED IN THIS SCHEDULE MAY DIFFER FROM AMOUNTS PRESENTED IN, OR USED IN THE PREPARATION OF THE BASIC FINANCIAL STATEMENTS.
Title: FOOD DISTRIBUTION
Accounting Policies: THE SEFA IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: N/A
NON-MONETARY ASSISTANCE IS REPORTED IN THE SCHEDULE AT THE FAIR MARKET VALUE OF THE COMMODITIES RECEIVED AND DISBURSED. DURING THE YEAR, THE DISTRICT RECEIVED $68,268 OF FOOD COMMODITIES FROM THE UNITED STATES DEPARTMENT OF AGRICULTURE. AS OF JUNE 30, 2024, THE DISTRICT HAD $1,013 IN FOOD COMMODITIES ON HAND.
Title: DEMINIMUS INDIRECT COST RATE
Accounting Policies: THE SEFA IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING.
De Minimis Rate Used: N
Rate Explanation: N/A
THE DISTRICT USED THE RESTRICTED INDIRECT COST RATE FOR ITS PROGRAMS AND DID NOT ELECT TO USE THE 10% DE MINIMUS COST RATE AS COVERED IN 2 CFR PART 200.414.