Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Summary of Significant 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The School has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Nonmonetary assistance is reported at the approximate value as provided by the State Department of Human Services.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Basis of Presentation - The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal grant activity of Greenwood School District No. 25 (the District) for the year ended June 30, 2022. 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Medicaid
Accounting Policies: Summary of Significant 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The School has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Nonmonetary assistance is reported at the approximate value as provided by the State Department of Human Services.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Medicaid - During the year ended June 30, 2022, the District received Medicaid funding of $161,628 from the State Department of Human Services. Such payments are not considered Federal awards expended, and therefore, are not included in the above Schedule.
Title: Subrecipients
Accounting Policies: Summary of Significant 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The School has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Nonmonetary assistance is reported at the approximate value as provided by the State Department of Human Services.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Subrecipients - Of the Federal expenditures presented in this schedule, the District did not provide any Federal awards to subrecipients.