Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Note 2 - Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These 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. Negative amounts shown on the Schedule, if any, represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Note 3 - De Minimis Indirect Cost Rate
Huntsville Independent School District has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal grant activity of
Huntsville Independent School District. The information in the Schedule is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards ("Uniform Guidance"). Therefore, some amounts may differ from amounts presented in, or
used in the preparation of, the basic financial statements.
Reconciliation to Statement of Revenues, Expenditures and Changes in Fund Balances (Exhibit C-2):
See notes to SEFA for chart/table.
Title: Note 4 - Federal Revenue in the General Fund
Accounting Policies: Note 2 - Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. These 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. Negative amounts shown on the Schedule, if any, represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Note 3 - De Minimis Indirect Cost Rate
Huntsville Independent School District has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The General Fund accounts for several federal revenues as detailed below:
See notes to SEFA for chart/table.