Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be
allowable or may be limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect
cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The District has elected not
to use the 10-percent de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of
Teays Valley Local School District, Pickaway County, Ohio (the District) under programs of the federal government
for the fiscal year ended June 30, 2024. The information on this Schedule is prepared 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 operations of the District, it is not intended to and does not present the financial position, changes in
net position, or cash flows of the District.
Title: NOTE D - CHILD NUTRITION CLUSTER
Accounting Policies: Expenditures reported on the Schedule are reported on cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be
allowable or may be limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect
cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The District has elected not
to use the 10-percent de minimis indirect cost rate.
The District commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When
reporting expenditures on this Schedule, the District assumes it expends federal monies first.
Title: NOTE E - FOOD DONATION PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be
allowable or may be limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect
cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The District has elected not
to use the 10-percent de minimis indirect cost rate.
The District reports commodities consumed on the Schedule at the entitlement value. The District allocated donated
food commodities to the respective program that benefited from the use of those donated food commodities.
Title: NOTE F - TRANFERS BETWEEN PROGRAM YEARS
Accounting Policies: Expenditures reported on the Schedule are reported on cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be
allowable or may be limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect
cost rate to charge a de minimis rate of 10% of modified total direct costs to indirect costs. The District has elected not
to use the 10-percent de minimis indirect cost rate.
Federal regulations require schools to obligate certain federal awards by June 30. However, with Ohio Department of
Education’s consent, schools can transfer unobligated amounts to the subsequent fiscal year’s program.
The District transferred the following amount from 2024 to 2025 programs:
Program Title AL Number Amount Transferred
Title I Grants to Local Educational
Agencies
84.010 $4,920