Notes to SEFA
Title: Noncash Assistance - National School Lunch Program
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the Seminole County District School Board under programs of the Federal government for the fiscal 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 of Federal Awards (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 financial position, changes in net position, or cash flows of the District. Expenditures reported on the Schedule of Financial Awards 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
The National School Lunch Program includes $2,892,163 of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation.
Title: Disaster grants - Public Assistance (Presidentially Declared Disasters)
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the Seminole County District School Board under programs of the Federal government for the fiscal 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 of Federal Awards (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 financial position, changes in net position, or cash flows of the District. Expenditures reported on the Schedule of Financial Awards 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
Following a Presidential declaration of a major disaster or emergency, Department of Homeland Security’s Federal Emergency Management Agency (FEMA) awards grants to assist affected entities with the response to, and recovery from, such disasters. In fiscal year 2024, FEMA approved $88,753 of eligible expenditures for Hurricane Nicole, an event that occurred in November 2022. All of the eligible expenditures were incurred prior to fiscal year ending June 30, 2024.