Notes to SEFA
Title: Note 1 - Basis of Accounting
Accounting Policies: This Schedule is prepared on the same basis of accounting as the District’s financial statements. The district uses the modified accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations 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.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District has negotiated an indirect cost rate with the Oregon Department of Education.
This Schedule is prepared on the same basis of accounting as the District’s financial statements. The district uses the modified accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations 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.
Title: Note 2- Federal De Minimis Indirect Cost Rate
Accounting Policies: This Schedule is prepared on the same basis of accounting as the District’s financial statements. The district uses the modified accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations 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.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District has negotiated an indirect cost rate with the Oregon Department of Education.
The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District has negotiated an indirect cost rate with the Oregon Department of Education
Title: Note 3 - Program Costs
Accounting Policies: This Schedule is prepared on the same basis of accounting as the District’s financial statements. The district uses the modified accrual basis of accounting. The information in this schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations 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.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District has negotiated an indirect cost rate with the Oregon Department of Education.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the district’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.