Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Federal program expenditures included in the accompanying SEFA are presented on the modified acrual basis of accounting. The information in the SEFA is presented in accordance with requirements of the Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District does not utilize the 10% indirect cost rate as allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes federal grant activity of Sweetwater County School District #1 (the District). The District receives federal awards both directly from federal agencies and indirectly through pass-through entities.
Title: Summary of Significant Accounting Policies
Accounting Policies: Federal program expenditures included in the accompanying SEFA are presented on the modified acrual basis of accounting. The information in the SEFA is presented in accordance with requirements of the Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District does not utilize the 10% indirect cost rate as allowed under Uniform Guidance.
Federal program expenditures included in the accompanying SEFA are presented on the modified acrual basis of accounting. The information in the SEFA is presented in accordance with requirements of the Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
Items with an asterisk (*) are major programs.
Title: Indirect Cost Rate
Accounting Policies: Federal program expenditures included in the accompanying SEFA are presented on the modified acrual basis of accounting. The information in the SEFA is presented in accordance with requirements of the Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District does not utilize the 10% indirect cost rate as allowed under Uniform Guidance.
The District does not utilize the 10% indirect cost rate as allowed under Uniform Guidance. The District sues the indirect cost rate that ranges from 5.73% to 7.60% as approved by the Wyoming Department of Education.
Title: Subrecipients
Accounting Policies: Federal program expenditures included in the accompanying SEFA are presented on the modified acrual basis of accounting. The information in the SEFA is presented in accordance with requirements of the Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District does not utilize the 10% indirect cost rate as allowed under Uniform Guidance.
The District did not pass any portion of federal awards to subrecipients.
Title: Commodities
Accounting Policies: Federal program expenditures included in the accompanying SEFA are presented on the modified acrual basis of accounting. The information in the SEFA is presented in accordance with requirements of the Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District does not utilize the 10% indirect cost rate as allowed under Uniform Guidance.
Non-monetary assistance, such as food received from the United States Department of Agriculture, is reported as revenue, at fair market value, on the date received by the District.