Notes to SEFA
Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting for the
Child Nutrition Cluster and the modified accrual basis of accounting for all remaining programs.
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. 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. Pass-through entity identifying numbers are
presented where available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
awards activity of Moshannon Valley School District (the District) under programs of 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 select 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: 3. Access Reimbursements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting for the
Child Nutrition Cluster and the modified accrual basis of accounting for all remaining programs.
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. 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. Pass-through entity identifying numbers are
presented where available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform
Guidance.
Access reimbursements for direct medical services are classified as fee-for-service revenues and are
not considered federal awards. The General Fund federal revenues included $45,733 of Access
reimbursements for direct medical services for the year ended June 30, 2024.
Title: 4. Relationship to Federal Financial Reports
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting for the
Child Nutrition Cluster and the modified accrual basis of accounting for all remaining programs.
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. 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. Pass-through entity identifying numbers are
presented where available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform
Guidance.
Amounts reported in the accompanying Schedule agree with the amounts reported in the related federal
financial reports.
Title: 5. National School Lunch Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting for the
Child Nutrition Cluster and the modified accrual basis of accounting for all remaining programs.
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. 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. Pass-through entity identifying numbers are
presented where available.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform
Guidance.
The program amount for the National School Lunch Program is based on a set per meal reimbursement
rate.