Notes to SEFA
Title: Schedule of Expenditures of Federal Awards
Accounting Policies: modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes federal grant activity of the County Office and is presented under the modified accrual basis of accounting. Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance) require a disclosure of the financial activities of all federally funded programs. This schedule was prepared to comply with the Uniform Guidance and state requirements. Therefore, some amounts presented in this schedule may differ from amounts used in the preparation of the general purpose financial statements. The District did not elect to use the 10% de minimis cost rate.
The schedule on the following page provides a reconciliation between revenues reported on the Statement of Revenues, Expenditures and Changes in Fund Balances, and the related expenditures reported on the Schedule of Expenditures of Federal Awards. The reconciling amount consists of Supply Chain Assistance Funds revenue received in excess of expenditures.