Notes to SEFA
Title: Note 1 - Federal Revenue Reconciliation
Accounting Policies: Note 3 - Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized
following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or
are limited to reimbursement. Pass-through entity identifying numbers are presented where available. The District has
elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: See Note 3, last sentence.
Federal revenues for the year ended August 31, 2024 are reported in the basic financial statements as follows:
See notes to SEFA for table/chart.
Title: Note 2 - Basis of Presentation
Accounting Policies: Note 3 - Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized
following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or
are limited to reimbursement. Pass-through entity identifying numbers are presented where available. The District has
elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: See Note 3, last sentence.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the District under programs of the federal government for the year ended August 31, 2024. The information in this Schedule is
presented in accordance with the Uniform Guidance. 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, changes in net position or cash flows of the District.