Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the
Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal
award activity of the District under programs of the federal government for the year ended June 30,
2024. The information in this Schedule is presented in accordance with the 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). Because the Schedule presents only
a selected portion of the operations of the District, it is not intended to and does not present the
financial position, changes of net assets, or cash flows of the District.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 3 – PASS-THROUGH GRANT NUMBERS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the
Uniform Guidance.
All pass-through entities listed above use the same Assistance Listing numbers as the federal grantors
to identify these grants and have not assigned any additional identifying numbers.
Title: NOTE 4 – INVENTORY
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the
Uniform Guidance.
Inventories of commodities donated by the U.S. Department of Agriculture are recorded at market
value in the Food Service Fund as inventory. Revenue and expenditures are recorded when
commodities are used.
Title: NOTE 5 – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the
Uniform Guidance.
The District did not elect to use the 10 percent de minimis indirect cost rate, as allowed under the
Uniform Guidance.