Notes to SEFA
Title: Note 3. Reconciliation to Basic Financial Statements
Accounting Policies: Note 1. Summary of Significant Accounting Policies
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Stafford Municipal School
District and is presented on the modified accrual basis of accounting. The information in this schedule is presented in
accordance with the requirements of Single Audit Act Amendments of 1996 and 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 presented in this schedule may differ from amounts presented in, or used in the
preparation of the basic financial statements. National School Lunch Program non-cash commodities are recorded at their
estimated market value at the time of donation.
De Minimis Rate Used: N
Rate Explanation: Note 2. De Minimis Cost Rate
The District elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Presented below is a reconciliation of total federal revenues to Exhibit C-2: See Notes to SEFA for table/chart.
Presented below is a reconciliation of General Fund federal revenues to Exhibit C-2: See Notes to SEFA for table/chart.