Notes to SEFA
Title: Note A - General
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of
accounting. Non-cash expenditures are included in the schedule. Expenditures of federal awards are recognized in the
accounting period when the liability is incurred. Such expenditures are recognized following the cost principles contained
in the Uniform Guidance, where in certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards includes the amount of federal grants expended by Mesa
County Valley School District No. 51, during the year ended June 30, 2024. The information in the 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 the schedule may differ from amounts presented in, or used in, the preparation of the basic
financial statements. Because the schedule presents only a select portion of the operations of the District, it is not
intended to and does not present the financial position or changes in net position of the District.
Title: Note C - Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of
accounting. Non-cash expenditures are included in the schedule. Expenditures of federal awards are recognized in the
accounting period when the liability is incurred. Such expenditures are recognized following the cost principles contained
in the Uniform Guidance, where in certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
For the year ended June 30, 2024, the District did not pass through any federal grants to subrecipients.