Notes to SEFA
Title: Note 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 Uniform Guidance, wherein ccertain types of expenditures are not allowable or are in limited as to reimburesment. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of usiness 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 electede to use indirect cost rates as defined by the grantor in the following programs: Ttile I Grants ro Local Educational Agencies, Migrant Education State Grant Programs, IDEA- part B Special Education, Supporting Effective Instruction State Grants, Title IV Student Support and Academic Enrichment Program The district has elected not to use the 10-percent de minimis indirect cost rated allowed under the uniform guidance.
The accompanying schedule of expenditures of federal awards (the "schedule") includes the federal grant activity of Ohio County 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, 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 postition or cash flows of the District.
Title: Notes 4: Subrecipients
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 Uniform Guidance, wherein ccertain types of expenditures are not allowable or are in limited as to reimburesment. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of usiness 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 electede to use indirect cost rates as defined by the grantor in the following programs: Ttile I Grants ro Local Educational Agencies, Migrant Education State Grant Programs, IDEA- part B Special Education, Supporting Effective Instruction State Grants, Title IV Student Support and Academic Enrichment Program The district has elected not to use the 10-percent de minimis indirect cost rated allowed under the uniform guidance.
There were no subrecipients during the fiscal year.
Title: Note 5: Loans and Loan Guarantees
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 Uniform Guidance, wherein ccertain types of expenditures are not allowable or are in limited as to reimburesment. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of usiness 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 electede to use indirect cost rates as defined by the grantor in the following programs: Ttile I Grants ro Local Educational Agencies, Migrant Education State Grant Programs, IDEA- part B Special Education, Supporting Effective Instruction State Grants, Title IV Student Support and Academic Enrichment Program The district has elected not to use the 10-percent de minimis indirect cost rated allowed under the uniform guidance.
The District did not have any loans or loan guarantee programs required to be reported on the schedule.