Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: El Paso County School District No. 38 - Lewis-Palmer has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of El Paso County School District No. 38 - Lewis-Palmer under programs of the federal government
for the year ended June 30, 2023. 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). Because the Schedule
presents only a selected portion of the operations of El Paso County School District No. 38 - Lewis-Palmer,
it is not intended to and does not present the financial position, changes in net position, or cash flows of El
Paso County School District No. 38 - Lewis-Palmer.
Title: NON-CASH ASSISTANCE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: El Paso County School District No. 38 - Lewis-Palmer has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
During the year end June 30, 2024, El Paso County School District No. 38 - Lewis-Palmer received $73,118
in non-cash assistance in the form of food commodities. Valuation of commodities is based on fair market
value at the time of receipt.