Notes to SEFA
Title: NOTE 1: REPORTING ENTITY
Accounting Policies: Littlestown Area School District (the "District") is the reporting entity for financial reporting purposes as defined in the footnotes to the District's basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the District's reporting entity is the same that was used for financial reporting. The accompanying Schedule of Expenditures of Federal Awards included the grant activity of the School District and is presented using the accrual basis of accounting, which is described in the Summary of Significant Accounting Policies Note to the District's basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The School District did not use the 10% de minimis indirect cost rate.
Littlestown Area School District ("the "District") is the reporting entity for financial reporting purposes as defined in the footnotes to the District's basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the District's reporting entity is the same that was used for financial reporting.
Title: NOTE 2: BASIS OF ACCOUNTING
Accounting Policies: Littlestown Area School District (the "District") is the reporting entity for financial reporting purposes as defined in the footnotes to the District's basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the District's reporting entity is the same that was used for financial reporting. The accompanying Schedule of Expenditures of Federal Awards included the grant activity of the School District and is presented using the accrual basis of accounting, which is described in the Summary of Significant Accounting Policies Note to the District's basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The School District did not use the 10% de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards incuded the grant activity of the School District and is presented using the accrual basis of accounting, which is described in the Summary of Significant Accounting Policies Note to the District's basic financial statements. The School District did not use the 10% de minimis indirect cost rate.
Title: NOTE 3: RISK-BASED AUDIT APPROACH
Accounting Policies: Littlestown Area School District (the "District") is the reporting entity for financial reporting purposes as defined in the footnotes to the District's basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the District's reporting entity is the same that was used for financial reporting. The accompanying Schedule of Expenditures of Federal Awards included the grant activity of the School District and is presented using the accrual basis of accounting, which is described in the Summary of Significant Accounting Policies Note to the District's basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The School District did not use the 10% de minimis indirect cost rate.
The 2024 threshold for determining Type A and Type B programs is $750,000. The School District had no Type A programs.
The following Type B program audited as major for coverage:
ALN 84.425U American Rescue Plan – Elementary and Secondary School Emergency Relief
The amount expended under the program audited as a major federal program for the year ended June 30, 2024, totaled $662,740 or 34.1% of total federal awards expended.