Notes to SEFA
Title: Basis of presentation
Accounting Policies: Expenditures presented on the Schedule are reported on the accrual basis of accounting, which is the same basis of accounting used in the preparation of the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, which states that certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 15% indirect cost rate as allowed under the Uniform Guidance. The Association has elected to use the 10% indirect cost rate approved by the California Department of Education for certain CDE contracts.
The Accompanying schedule of expenditures of federal and state awards includes the federal and state contract activity of the Association under programs of the federal government for the year ended June 30, 2024. 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 the Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Association.