Notes to SEFA
Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: 1) Expenditures reported on the schedule are reported on the accrual basis of accounting. 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.
2) The grant revenue amounts received and expensed (eligible for reimbursement) are subject to audit adjustment. If
any expenses are disallowed by the grantor as a result of such audit, any claim for reimbursement to the grantor
would become a liability of Arlington Community School System. In the opinion of management, all grant expenses
(eligible for reimbursement) are in compliance with the terms of the grant agreements and applicable federal and
state laws and regulations.
3) Pass-through entity identifying numbers are presented where available.
4) There were no federal awards passed through to subrecipients.
5) The System has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
6) Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and
disbursed.
De Minimis Rate Used: N
Rate Explanation: The System has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards and state financial assistance (the “Schedule”) includes
the federal and state grant activity of the Arlington Community School System (the “System”) under programs of those
governments 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 System, it is not intended to and does not present the financial position, changes in net position,
or cash flows of the System.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: 1) Expenditures reported on the schedule are reported on the accrual basis of accounting. 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.
2) The grant revenue amounts received and expensed (eligible for reimbursement) are subject to audit adjustment. If
any expenses are disallowed by the grantor as a result of such audit, any claim for reimbursement to the grantor
would become a liability of Arlington Community School System. In the opinion of management, all grant expenses
(eligible for reimbursement) are in compliance with the terms of the grant agreements and applicable federal and
state laws and regulations.
3) Pass-through entity identifying numbers are presented where available.
4) There were no federal awards passed through to subrecipients.
5) The System has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
6) Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and
disbursed.
De Minimis Rate Used: N
Rate Explanation: The System has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
1) Expenditures reported on the schedule are reported on the accrual basis of accounting. 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.
2) The grant revenue amounts received and expensed (eligible for reimbursement) are subject to audit adjustment. If
any expenses are disallowed by the grantor as a result of such audit, any claim for reimbursement to the grantor
would become a liability of Arlington Community School System. In the opinion of management, all grant expenses
(eligible for reimbursement) are in compliance with the terms of the grant agreements and applicable federal and
state laws and regulations.
3) Pass-through entity identifying numbers are presented where available.
4) There were no federal awards passed through to subrecipients.
5) The System has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
6) Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and
disbursed.
Title: NOTE C – RECONCILIATION OF THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS AND STATE
FINANCIAL ASSISTANCE TO THE FINANCIAL STATEMENTS
Accounting Policies: 1) Expenditures reported on the schedule are reported on the accrual basis of accounting. 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.
2) The grant revenue amounts received and expensed (eligible for reimbursement) are subject to audit adjustment. If
any expenses are disallowed by the grantor as a result of such audit, any claim for reimbursement to the grantor
would become a liability of Arlington Community School System. In the opinion of management, all grant expenses
(eligible for reimbursement) are in compliance with the terms of the grant agreements and applicable federal and
state laws and regulations.
3) Pass-through entity identifying numbers are presented where available.
4) There were no federal awards passed through to subrecipients.
5) The System has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
6) Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and
disbursed.
De Minimis Rate Used: N
Rate Explanation: The System has elected not to use the de minimis indirect cost rate as allowed under the Uniform Guidance.
The following is a reconciliation of expenditures per the schedule to the revenue balances in the System’s financial
statements:
Total grant revenue per governmental funds financial statements 6,966,252
Non-federal and non-state grants and awards (8,700)
Total federal awards and state financial assistance $ 6,957,552