Notes to SEFA
Title: Note B - Food Distribution Program
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Central Community School System and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regualtions (CFR) Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. At June 30, 2024, the Central Community School System had food commodities totaling $9,541 in inventory
Title: Note D - Reconciliation of Federal Expenditures
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Central Community School System and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regualtions (CFR) Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal Assistance expended as reported on the Schedule of Expenditures of Federal Awards: $5,913,853. Revenues from Federal Sources as reported on: Statement E- All Governmental Fund Types - Statement of Revenues, Expenditures and Changes in Fund Balance $5,913,853.