Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE 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. PASS THROUGH IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE.
De Minimis Rate Used: N
Rate Explanation: CAMPBELL COUNTY SCHOOL DISTRICT NO. 1 DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES THE FEDERAL AWARD ACTIVITY OF CAMPBELL COUNTY SCHOOL DISTRICT NO. 1 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 CAMPBELL COUNTY SCHOOL DISTRICT NO. 1, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION OR CHANGES IN NET ASSETS, OR CASH FLOWS OF CAMPBELL COUNTY SCHOOL DISTRICT NO. 1.
Title: FOOD COMMODITIES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE 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. PASS THROUGH IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE.
De Minimis Rate Used: N
Rate Explanation: CAMPBELL COUNTY SCHOOL DISTRICT NO. 1 DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
NONMONETARY ASSISTANCE IS REPORTED IN THE SCHEDULE AT THE FAIR VALUE OF THE COMMODITIES RECEIVED AND DISBURSED.
Title: AMOUNTS PASSED THROUGH TO SUBRECIPIENTS
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE 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. PASS THROUGH IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE.
De Minimis Rate Used: N
Rate Explanation: CAMPBELL COUNTY SCHOOL DISTRICT NO. 1 DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
THE ACCOMPANYING SCHEDULE DOES NOT REFLECT ANY AMOUNTS AS PASSED THROUGH TO SUBRECIPIENTS, AS CAMPBELL COUNTY SCHOOL DISTRICT NO. 1 DID NOT SUBGRANT (PASS THROUGH) ANY FEDERAL AWARDS TO SUBRECIPIENTS.