Notes to SEFA
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. Under these principles, certain types of expenditures are not
allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts
reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.