Notes to SEFA
Title: (1) Basis of Presentation
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, 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 minimus cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the Manatee 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 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: (4) Noncash Assistance: National School Lunch Program.
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, 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 minimus cost rate allowed under the Uniform Guidance.
Includes $1,954,232 of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation.
Title: (5) Supply Chain Assistance Funds - National School Lunch Program.
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, 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 minimus cost rate allowed under the Uniform Guidance.
The District received $1,134,782 from the Supply Chain Assistance Fund to alleviate supply chain disruptions in the School Meal Programs.
Title: (6)
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, 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 minimus cost rate allowed under the Uniform Guidance.
The District received reimbursement from FEMA for prior year expenses for CFDA 97.036 in the amount of $669,331.