Notes to SEFA
Title: 1
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Palestine Independent School District. The District’s reporting entity is defined in
Note I of the financial statements. Federal awards received directly from federal agencies, as well as
federal awards passed through other government agencies, are included on the SEFA.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use a de minimis cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Palestine Independent School District. The District’s reporting entity is defined in
Note I of the financial statements. Federal awards received directly from federal agencies, as well as
federal awards passed through other government agencies, are included on the SEFA.
Title: 2
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Palestine Independent School District. The District’s reporting entity is defined in
Note I of the financial statements. Federal awards received directly from federal agencies, as well as
federal awards passed through other government agencies, are included on the SEFA.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use a de minimis cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The SEFA is presented using the modified accrual basis of accounting. The District’s significant
accounting policies, including the modified accrual basis of accounting, are presented in Note 1 of the
basic financial statements. The SEFA 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). Therefore, some of the amounts presented in
this schedule may differ from amounts presented in, or used in the preparation of, the financial
statements.
Title: 3
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Palestine Independent School District. The District’s reporting entity is defined in
Note I of the financial statements. Federal awards received directly from federal agencies, as well as
federal awards passed through other government agencies, are included on the SEFA.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use a de minimis cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The District did not elect to use a de minimis cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
Title: 4
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Palestine Independent School District. The District’s reporting entity is defined in
Note I of the financial statements. Federal awards received directly from federal agencies, as well as
federal awards passed through other government agencies, are included on the SEFA.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use a de minimis cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
Federal revenues per the Statement of Revenues,
Expenditures and Changes in Fund Balance -
Governmental Funds (Exhibit C-3) $ 7,704,987
Less:
School Health And Related Services 329,423
Federal expenditures per the Schedule of
Expenditures of Federal Awards
(Exhibit K-1) $ 7,375,564