Notes to SEFA
Accounting Policies: Basis of Presentation:
The accompanying schedule of expenditures of federal awards includes the federal grant activity of South Texas
Independent School District. 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 amounts presented in this schedule may differ
from amounts presented in or used in the preparation of the basic financial statements.
Summary of Significant Accounting Policies:
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance and OMB Compliance Supplement,
wherein certain types of expenditures are not allowable or are limited as to reimbursement. Federal funds for the
revenues for indirect costs are reported in the General Fund. All other federal programs are accounted for and reported
in Special Revenue Funds.
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 period performance for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the
ending date of the federal project period extended 90 days beyond the federal project period ending date, in accordance with
provisions in Section H, Period of Performance of Federal Funds, Part 3, Uniform Guidance Compliance Supplement.
Assistance listing numbers (ALN) for commodity assistance are the ALN numbers of the programs under which USDA
donated the commodities.
Indirect Cost Rate:
South Texas Independent School District has received an indirect cost rate from TEA and elected not to use the de
minimis indirect cost rate of 10% as described at 2 CFR §200.414(f)—Indirect (F&A) costs.
Sub-recipients:
During the year ended August 31, 2024, the District had no sub-recipients.
Federal Loans and Loan Guarantees:
During the year ended August 31, 2024, the District had no outstanding federal loans payable or loan guarantees.
Federally Funded Insurance:
During the year ended August 31, 2024, the District had no federally funded insurance.
Reconciliation from the Schedule of Expenditures of Federal Awards to the Exhibit C-3:
Total Federal Award Expended $ 5,048,995
Federal Revenues Distributed Directly 396,582
Exhibit C-3 $ 5,445,577
De Minimis Rate Used: N
Rate Explanation: South Texas Independent School District has received an indirect cost rate from TEA and elected not to use the de
minimis indirect cost rate of 10% as described at 2 CFR §200.414(f)—Indirect (F&A) costs.