Notes to SEFA
Title: Determining the Value of Non-cash Awards Expended
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Gunnison Watershed School District RE-1J and
is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the
requirements of Title 2, U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards ("Uniform Guidance") . Therefore, some amounts presented in this schedule may differ from
the amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10% de minimis cost rate allowed in 200.414, Indirect (F&A) Costs , of the Uniform Guidance.
Food Commodities: Fair market value of commodities at the time recipient received award.
Title: Sub recipients
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Gunnison Watershed School District RE-1J and
is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the
requirements of Title 2, U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards ("Uniform Guidance") . Therefore, some amounts presented in this schedule may differ from
the amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10% de minimis cost rate allowed in 200.414, Indirect (F&A) Costs , of the Uniform Guidance.
Gunnison Watershed School District RE-1IJ did not provide any federal funds listed in the Schedule of Expenditures of Federal
Awards to sub-recipients.