Title: GENERAL
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Moody 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 apply a de minimis indirect cost rate as described at 2CFR §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 Moody 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: BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Moody 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 apply a de minimis indirect cost rate as described at 2CFR §200.414(f) –
Indirect (F&A) Costs.
The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The modified accrual basis of accounting is described in Note I of the financial statements.
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). Therefore, some of the amounts presented in
the SEFA may differ from amounts presented in, or used in the preparation of, the financial
statements.
Title: RECONCILIATION OF FEDERAL REVENUES AND THE SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Moody 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 apply a de minimis indirect cost rate as described at 2CFR §200.414(f) –
Indirect (F&A) Costs.
The following is a reconciliation of expenditures of federal awards in the SEFA and federal program
revenues in the Statement of Revenues, Expenditures and Changes in Fund Balance of the
governmental funds.
Federal revenues per the Statement of Revenues,
Expenditures and Changes in Fund Balance -
Governmental Funds (Exhibit C-3) $ 1,329,136
School health and related services revenue (SHARS) (43,187)
Federal flood control funds (8,440)
Federal expenditures per the Schedule of
Expenditures of Federal Awards (Exhibit K-1) $ 1,277,509
Title: PASS-THROUGH EXPENDITURES
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Moody 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 apply a de minimis indirect cost rate as described at 2CFR §200.414(f) –
Indirect (F&A) Costs.
None of the federal programs expended by the District were provided to subrecipients.
Title: INDIRECT COSTS
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Moody 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 apply a de minimis indirect cost rate as described at 2CFR §200.414(f) –
Indirect (F&A) Costs.
The District did not elect to apply a de minimis indirect cost rate as described at 2CFR §200.414(f) –
Indirect (F&A) Costs.
Title: GRANTOR AGENCY AUDITS AND ADJUSTMENTS
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal
award programs of Moody 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 apply a de minimis indirect cost rate as described at 2CFR §200.414(f) –
Indirect (F&A) Costs.
The District participates in numerous state and federal grant programs, which are governed by various
rules and regulations of the grantor agencies. Costs charged to the respective grant programs are
subject to audit and adjustments by the grantor agencies; therefore, to the extent that the District has
not complied with rules and regulations governing the grants, refund of any money received may be
required and the collectability of any related receivable at August 31, 2024, may be impaired. In the
opinion of the District, there are no significant contingent liabilities relating to compliance with the rules
and regulations governing the respective grants; therefore, no provision has been recorded in the
accompanying financial statements for such contingencies.