Notes to SEFA
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial
Accountability System Resource Guide.
(i) General Fund - is used to account for , among other things, resources related to the United States
Department of Defense ROTC program and the United States Department of Education's Impact Aid.
(ii) Special Revenue Funds - are used to account for resources restricted to, or designated for, specific purposes
by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
Generally, unused balances are returned to the grantor at the close of specified project periods.
· The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The
Governmental Fund types are accounted for using a current financial resources measurement focus. All Federal grant
funds were accounted for in a Special Revenue Fund or, in some instances, in the General Fund which are
Governmental Fund type funds.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the
balance sheet. Operating statements of these funds present increases and decreases in net current assets. The modified
accrual basis of accounting is used for the Governmental Fund types. This basis of accounting recognizes revenues in
the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and
expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured
interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and
judgments, which are recognized when the obligations are expected to be liquidated with expendable available
financial resources. Federal grant funds are considered to be earned to the extent of expenditures made under the
provisions of the grant, and, accordingly, when such funds are received, they are recorded as unearned revenues until
earned.
· The District must submit to the pass-through entity, no later than 90 calendar days (or an earlier date as agreed upon by
the pass-through entity and District) after the end date of the period of performance, all financial, performance, and
other reports as required by the terms and conditions of the Federal award. The Federal awarding agency or passthrough
entity may approve extensions when requested and justified by the non-Federal entity, as applicable. (2 CFR
200.344(a))
Unless the Federal awarding agency or pass-through entity authorizes an extension, a non-Federal entity must liquidate
all financial obligations incurred under the Federal award no later than 120 calendar days after the end date of the
period of performance as specified in the terms and conditions of the Federal award.(2 CFR 200.344(b))
· Assistance Listing numbers for commodity assistance are the Assistance Listing numbers of the programs under which
USDA donated the commodities.
· Indirect cost reimbursement for federal programs for this fiscal year was received in the amount of $453,481.
· Reconciliation Information:
Amount reported on the Schedule of Expenditures of Federal awards. $ 9,880,459
SHARS Revenue reported in the General Fund 188,239
E-RATE Revenue 74,002
Federal Program Revenue Reported on Exhibit C-3 10,142,700
De Minimis Rate Used: N
Rate Explanation: De minimis cost rate not used