Notes to SEFA
Title: Significant Accounting Policies
Accounting Policies: The schedule of expenditures of federal awards presents the activity of all federal award programs for the District for the year ended June 30, 2024. Because the schedule presents only a selected portion of the operations of the District, it is not intended to, and does not present the financial position or changes in net position of the District. The schedule of expenditures of federal awards is prepared on the 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 awards presents the activity of all federal award programs for the District for the year ended June 30, 2024. Because the schedule presents only a selected portion of the operations of the District, it is not intended to, and does not present the financial position or changes in net position of the District. The schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.