Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the
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 elected to not use the 10 percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The accompanying schedule of expenditures of the District under programs for 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 District, it is not intended to and does not present the financial position, changes in net
position, or cash flows of the District.
Title: Noncash Programs
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the
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 elected to not use the 10 percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The District receives food commodities from the U.S. Department of Agriculture for use in its food service program. The commodities are recognized as revenue when received. The commodities are recognized as expenses when used by the schools. The majority of the commodities are stored at the individual schools, instead of a central warehouse. As such, the District has determined that the title to the commodities passes to the District upon receipt of the commodities. Since the District has received title to the commodities, the unused commodities are not reflected as unearned revenue.
Title: Indirect Costs
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the
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 elected to not use the 10 percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The District has not elected to use the 10% de minimis indirect cost rate allowed in the Uniform Guidance, section 414.