Notes to SEFA
Title: Food Commodities
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to the reimbursement. Any negative amounts shown on the Schedule 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: Mercer Area School District has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed. At June 30, 2024, the District had $3,575 of food commodity inventory.
Title: Subrecipient Funding
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to the reimbursement. Any negative amounts shown on the Schedule 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: Mercer Area School District has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no funds passed through to subrecipients from any of the federal programs.
Title: Prior Year Omission
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to the reimbursement. Any negative amounts shown on the Schedule 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: Mercer Area School District has elected to not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
During the year ended June 30, 2023, Mercer Area School District expended $7,292 of funding associated with Disaster Grants – Public Assistance (PA), ALN 97.036. This funding was inadvertently not included on the Schedule of Expenditures of Federal Awards for the year ended June 30, 2023. Appropriate steps were taken to ensure this will not happen going forward.