Notes to SEFA
Title: Note A - General
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal and certain state 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 or nonprofit organizations, is included on the schedule.
Title: Note B - Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal and certain state awards is presented on the modified accrual basis of accounting which is described in Note A to the School District’s financial statements. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Note C - Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The schedule of expenditures of federal and certain state awards presents only a selected portion of the activities of the School District. It is not intended to, and does not, present either the balance sheet, revenues, expenditures and changes in fund balances of the Governmental Funds and changes in net position of the Proprietary Funds or cash flows of the School District. The financial activity for the aforementioned awards is reported in the School District’s statement of revenues, expenditures and changes in fund balances of the Governmental Funds and statement of revenues, expenses and changes in net position and cash flows of the Proprietary Funds. In certain programs, the expenditures reported in the financial statements may differ from the expenditures reported in the schedule of expenditures of federal and certain state awards due to program expenditures exceeding grant or contract budget limitations, which are not reported as expenditures in the schedule of expenditures of federal and certain state awards.
Title: Note D - Administrative Expenses
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The expenditures in the accompanying schedule of expenditures of federal and certain state awards include an allocation of administrative expenses. These allocations are based upon amounts permitted under each individual financial assistance program.