Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant
activity of the School District 27J, Colorado and is presented on the modified accrual basis
of accounting. The information in this schedule is presented in accordance with the
Uniform Guidance. Therefore, some amounts presented in this schedule may differ from
amounts reported in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has used 3.32% for indirect costs. We feel this is a fair representation of time spent.