Notes to SEFA
Title: Basis of Presentation
Accounting Policies: See notes
De Minimis Rate Used: N
Rate Explanation: The School District chose not to use the 10% de minimis cost rate for the year ended June 30, 2024.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Beaufort County School District (the “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 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 the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.