Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Aspen School District No.1 (RE) and is presented
on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the
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 amounts presented in, or
used in, the preparation of the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the 10% de minimis cost rate allowed in § 200.414, Indirect (F&A) Costs, of the Uniform Guidance.
The Schedule of Expenditures of Federal Awards includes the federal grant activity of Aspen School District No.1 (RE) and is presented
on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the
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 amounts presented in, or
used in, the preparation of the general purpose financial statements.
Title: Sub recipients
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Aspen School District No.1 (RE) and is presented
on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the
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 amounts presented in, or
used in, the preparation of the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the 10% de minimis cost rate allowed in § 200.414, Indirect (F&A) Costs, of the Uniform Guidance.
The District had no sub-recipients as of June 30, 2024.
Title: Indirect Facilities and Administration Costs
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Aspen School District No.1 (RE) and is presented
on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the
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 amounts presented in, or
used in, the preparation of the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the 10% de minimis cost rate allowed in § 200.414, Indirect (F&A) Costs, of the Uniform Guidance.
The District has elected to not use the 10% de minimis cost rate allowed in § 200.414, Indirect (F&A) Costs, of the Uniform Guidance.