Notes to SEFA
Title: Nonmonetary Assistance
Accounting Policies: Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. The accounts of the District are maintained, and the accompanyig financial statements have been prepared, on the modified cash basis of accounting. Therefore, revenues and expenditures are recognized only when collected or paid, and receivables and accrued liablities are not reflected in the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District elected not to use the 10% de minimus indirect cost rate. The Missouri Department of Elementary and Secondary Education has approved the following indirect cost rates for the District: Nonrestricted - 17.32%; Restricted - 0.12%. The indirect cost rates are calculated annually by the Missouri Department of Elementary and Secondary Education according to aggrements between the Missouri Department of Elementary and Secondary Education and the U.S. Department of Education.
The District receives commodities under the Food Distribution Program. The amount of expenditures presented on the Schedule of Expenditures of Federal Awards represent donated commodities used, which totaled $112,744, valued at the cost assigned to those commodities by the Food Service Section of the Department of Elementary and Secondary Education.
Title: Schoolwide Pool Funding
Accounting Policies: Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. The accounts of the District are maintained, and the accompanyig financial statements have been prepared, on the modified cash basis of accounting. Therefore, revenues and expenditures are recognized only when collected or paid, and receivables and accrued liablities are not reflected in the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District elected not to use the 10% de minimus indirect cost rate. The Missouri Department of Elementary and Secondary Education has approved the following indirect cost rates for the District: Nonrestricted - 17.32%; Restricted - 0.12%. The indirect cost rates are calculated annually by the Missouri Department of Elementary and Secondary Education according to aggrements between the Missouri Department of Elementary and Secondary Education and the U.S. Department of Education.
The District operates a schoolwide program in three K-5 buildings. Using federal funding, schoolwide programs are designed to upgrade an entire educational program within a school for all students, rather than limit services to certain targeted students. The following federal program amounts were expended by the District through its schoolwide pool funding: Title I (84.010) - $407,741 and Title IV.A (84.424) - $34,613.
Title: Subrecipients
Accounting Policies: Basis of accounting refers to when revenues and expenditures are recognized in the accounts and reported in the financial statements. The accounts of the District are maintained, and the accompanyig financial statements have been prepared, on the modified cash basis of accounting. Therefore, revenues and expenditures are recognized only when collected or paid, and receivables and accrued liablities are not reflected in the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District elected not to use the 10% de minimus indirect cost rate. The Missouri Department of Elementary and Secondary Education has approved the following indirect cost rates for the District: Nonrestricted - 17.32%; Restricted - 0.12%. The indirect cost rates are calculated annually by the Missouri Department of Elementary and Secondary Education according to aggrements between the Missouri Department of Elementary and Secondary Education and the U.S. Department of Education.
The District did not provide funds to subrecipients in the current year.