Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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: Berlin Brothersvalley School District has elected not to use the 10 percent de minimis indirect cost rate, as allowed under the Uniform Guidance.
The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Berlin Brothersvalley School 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 (CFR) 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 Berlin Brothersvalley School District, it is not intended to and does not present the financial position, changes in financial position, or cash flows of Berlin Brothersvalley School District.
Title: Donated Commodities
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards 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: Berlin Brothersvalley School District has elected not to use the 10 percent de minimis indirect cost rate, as allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the schedule at fair market value of the commodities received and disbursed. At June 30, 2024, the District had food commodities totaling $8,183 in inventory.