Notes to SEFA
Title: Note 1: 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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shows on the shcedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The district 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 grant activity of Muhlenberg County School District (the "District") 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 (CFR) part 200, (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 fincial position, changes in net position or cash flows of the District.
Title: Note 4: Loans and Loan Guarantees
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shows on the shcedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The district has elected not to use the 10-percent de minimis indirect cost rate allowed under the uniform guidance.
The District did not have any loans or loan guarantee programs required to be reported on the schedule.
Title: Notes 5: Subrecipients
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shows on the shcedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The district has elected not to use the 10-percent de minimis indirect cost rate allowed under the uniform guidance.
The district did not provide federal funds to subrecipients for the fiscal year ended june 30, 2024.