Notes to SEFA
Title: Note A - General
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such as expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures ae not allowable or are limited as to the reimbursement. Negative amounts show on the Schedule of represent adjustments or credits made in the normal course of business amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards presents the activity of all
federal financial assistance programs of the School District. The School District’s reporting
entity is defined in Note A to the School District’s financial statements. Federal financial
assistance received directly from federal agencies, as well as federal financial assistance
passed through other government agencies, is included on the schedule.
Title: Note B - Basis of Accounting
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such as expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures ae not allowable or are limited as to the reimbursement. Negative amounts show on the Schedule of represent adjustments or credits made in the normal course of business amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards is presented using the
modified accrual basis of accounting, which is described in Note A.
Title: Note C - Indirect Cost Rates
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such as expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures ae not allowable or are limited as to the reimbursement. Negative amounts show on the Schedule of represent adjustments or credits made in the normal course of business amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The School District has not elected to use the 10% de minimis indirect cost rate as allowed
in the Uniform Guidance, Section 414.