Notes to SEFA
Title: Note 2
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10% de minimis indirect cost rate.
Extensive compliance tests, as required by the Single Audit Act of 1996, was performed on the Education Stabilization Fund and the Child Nutrition Cluster which represents 71% of the total expenditures reflected on the Schedule of Expenditures of Federal Awards. The Education Stabilization Fund and Child Nutrition Cluster exceed $987,142 and, therefore, represent the programs to which we had to apply the specific compliance requirements.
Title: Note 3
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10% de minimis indirect cost rate.
The commodities are value at market value, which represents the cost to replace these commodities.
Title: Note 4
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10% de minimis indirect cost rate.
The School District had a receivable $224,780 for the Medical Assistance reimbursements for the ACCESS program as of June 30, 2023. During the current year, the School District received this amount. The ACCESS program is the medical assistance (MA) program that reimburses school entities for direct, eligible health related services provided to MA enrolled special needs children. These reimbursements are classified as federal money in the School's account code structure; however, these funds are not restricted in use like other federal monies. ACCESS reimbursements are classified as fee-for-service revenues, and are not considered federal financial assistance, which results in ACCESS funds not being reported on the School District's Schedule of Expenditures of Federal Awards. During the current year, the School District earned $243,819, which is recognized as a receivable as of June 30, 2024.
Title: Note 6
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10% de minimis indirect cost rate.
The School District has no subrecipients.