Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: Regulatory (Cash) Basis
De Minimis Rate Used: N
Rate Explanation: The auditee elected to not use the 10% de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Pinckneyville SD 50 and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note 2: Indirect Facilities & Administration Costs
Accounting Policies: Regulatory (Cash) Basis
De Minimis Rate Used: N
Rate Explanation: The auditee elected to not use the 10% de minimis cost rate.
Auditee did not elect to use the 10% de minimis cost rate.
Title: Note 3: Subrecipients
Accounting Policies: Regulatory (Cash) Basis
De Minimis Rate Used: N
Rate Explanation: The auditee elected to not use the 10% de minimis cost rate.
Of the federal expenditures presented in this schedule, Pinckneyville SD 50 did not provide federal awards to any subrecipients.
Title: Note 4: Non-Cash Assistance
Accounting Policies: Regulatory (Cash) Basis
De Minimis Rate Used: N
Rate Explanation: The auditee elected to not use the 10% de minimis cost rate.
The following amounts were expended in the form of non-cash assistance by PInckneyville SD 50 and should be included in the Schedule of Expenditures of Federal Awards: NON CASH COMMODITIES (AL 10.555) $16,380, OTHER NON CASH ASSISTANCE - DEPT OF DEFENSE FRUITS AND VEGETABLES $10,896 TOTAL NON-CASH $27,276.
Title: Note 5: Other Information
Accounting Policies: Regulatory (Cash) Basis
De Minimis Rate Used: N
Rate Explanation: The auditee elected to not use the 10% de minimis cost rate.
There was no insurance coverage paid with federal funds during the fiscal year.