Notes to SEFA
Title: Note 3 – Food Distribution
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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 School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
Non-monetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed.
Title: Note 4 – Title IV, Part A, ARTech
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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 School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
The school did not code any expenditures to project 714 in 2022-2023 or 2023-2024. The expenditures were coded to a local project code to track expenditures. When the revenues came in they were federal. We are showing the $3,568 of federal expenditures to offset the federal revenues received. The prior year revenues received for Project 799 will be zeroed out since the funds were expended in the prior year. The school recorded the 2023-2024 expenditures to a federal project code upon audit.
Title: Note 5 – ARP ESSER-Science of Reading
Accounting Policies: Expenditures reported on the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial statements except for nonmonetary assistance noted in Note 3. 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 School has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
The school was reimbursed for expenditures that were originally coded to non-federal. The State Department of Education later decided to reimburse if the school could provide documentation. The school recorded the expenditures to a federal project code upon audit.