Notes to SEFA
Title: Note 1
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the modified
accrual or accrual basis of accounting based on the fund type of the program. 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. Revenue from federal awards is
recognized when the District has done everything necessary to establish its right to revenue. For
governmental funds, revenue from federal awards is recognized when it is both measurable and
available. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Johnston Community School 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
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: Note 2
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the modified
accrual or accrual basis of accounting based on the fund type of the program. 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. Revenue from federal awards is
recognized when the District has done everything necessary to establish its right to revenue. For
governmental funds, revenue from federal awards is recognized when it is both measurable and
available. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the schedule of expenditures of federal awards are reported on the modified
accrual or accrual basis of accounting based on the fund type of the program. 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. Revenue from federal awards is
recognized when the District has done everything necessary to establish its right to revenue. For
governmental funds, revenue from federal awards is recognized when it is both measurable and
available. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred.
Title: Note 3
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the modified
accrual or accrual basis of accounting based on the fund type of the program. 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. Revenue from federal awards is
recognized when the District has done everything necessary to establish its right to revenue. For
governmental funds, revenue from federal awards is recognized when it is both measurable and
available. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.