Title: Note 1.
Accounting Policies: The District uses the fund types specified in the Texas Education Agency’s Financial Accountability System Resource Guide for all federal programs. Special revenue funds account for resources restricted to or designated for specific purposes by a grantor. Federal and state financial assistance is generally accounted for in a Special Revenue Fund. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The District uses the fund types specified in the Texas Education Agency’s Financial Accountability System Resource Guide for all federal programs. Special revenue funds account for resources restricted to or designated for specific purposes by a grantor. Federal and state financial assistance is generally accounted for in a Special Revenue Fund.
Title: Note 2.
Accounting Policies: The District uses the fund types specified in the Texas Education Agency’s Financial Accountability System Resource Guide for all federal programs. Special revenue funds account for resources restricted to or designated for specific purposes by a grantor. Federal and state financial assistance is generally accounted for in a Special Revenue Fund. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus.
Title: Note 2 Continued
Accounting Policies: The District uses the fund types specified in the Texas Education Agency’s Financial Accountability System Resource Guide for all federal programs. Special revenue funds account for resources restricted to or designated for specific purposes by a grantor. Federal and state financial assistance is generally accounted for in a Special Revenue Fund. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
All Federal grant funds were accounted for in a Special Revenue Fund, which is a Government Fund type. With this measurement focus, only current assets and current liabilities are generally included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. The modified-accrual basis of accounting is used for governmental funds.
Title: Note 2 Continued
Accounting Policies: The District uses the fund types specified in the Texas Education Agency’s Financial Accountability System Resource Guide for all federal programs. Special revenue funds account for resources restricted to or designated for specific purposes by a grantor. Federal and state financial assistance is generally accounted for in a Special Revenue Fund. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
This accounting basis recognizes revenues in the accounting period in which they become measurable and available and expenditures in the accounting period in which the fund liability is incurred, except that principal and interest on general long-term debt are recognized when due. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant. Accordingly, when such funds are received, they are recorded as deferred revenues until earned.
Title: Note 3
Accounting Policies: The District uses the fund types specified in the Texas Education Agency’s Financial Accountability System Resource Guide for all federal programs. Special revenue funds account for resources restricted to or designated for specific purposes by a grantor. Federal and state financial assistance is generally accounted for in a Special Revenue Fund. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The period of availability for federal grant funds for liquidation of outstanding obligations made on or before the ending date of the federal project period is extended 30 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3, 0MB Uniform Guidance.
Title: Note 4
Accounting Policies: The District uses the fund types specified in the Texas Education Agency’s Financial Accountability System Resource Guide for all federal programs. Special revenue funds account for resources restricted to or designated for specific purposes by a grantor. Federal and state financial assistance is generally accounted for in a Special Revenue Fund. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Reconciliation of the Schedule of Expenditures of Federal Awards to Exhibit C-3 is as follows. The amount reported on the Schedule of Expenditures of Federal Awards of $11,802,367 plus other general fund federal revenues of $27,616 equals $11,829,983 which is the total federal revenue reported in Exhibit C-3.
Title: Note 5
Accounting Policies: The District uses the fund types specified in the Texas Education Agency’s Financial Accountability System Resource Guide for all federal programs. Special revenue funds account for resources restricted to or designated for specific purposes by a grantor. Federal and state financial assistance is generally accounted for in a Special Revenue Fund. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.