Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of High Plains Educational Cooperative, District Number 611, Ulysses, Kanas (the District) under programs of the federal government for the year ended June 30, 2024. The information in this schedule if 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). Because the schedule presents only a select portion of the operations of District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. The Schedule is presented using regulatory basis of accounting prescribed by the Kanas Municipal Audit and Accounting Guide (as described in Note 1 to the financial statement), which is the same basis of accounting as the financial statement accompanying this schedule.
De Minimis Rate Used: N
Rate Explanation: 1) High Plains Educational Cooperative, District Number 611 did not use the standard indirect cost rate of 10%.
1) Expenditures reported in the Schedule of Expenditures of Federal Awards (SEFA) are reported using the accounting practices prescribed by the State of Kansas to demonstrate compliance with the cash and budget laws of the State of Kansas, the same as the financial statement accompanying this schedule.
Title: Funds Expended
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of High Plains Educational Cooperative, District Number 611, Ulysses, Kanas (the District) under programs of the federal government for the year ended June 30, 2024. The information in this schedule if 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). Because the schedule presents only a select portion of the operations of District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. The Schedule is presented using regulatory basis of accounting prescribed by the Kanas Municipal Audit and Accounting Guide (as described in Note 1 to the financial statement), which is the same basis of accounting as the financial statement accompanying this schedule.
De Minimis Rate Used: N
Rate Explanation: 1) High Plains Educational Cooperative, District Number 611 did not use the standard indirect cost rate of 10%.
Funds where federal expenditures were receipted and expended:
Fund: Amount:
Targeted Improvement Plan $ 75,777
American Rescue Plan Act 13,934
Title VI B 2,209,940
Total $ 2,299,651