Title: GENERAL
Accounting Policies: The SEFA is presented using the modified accrual basis of accounting. The District’s significant accounting
policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial
statements. The SEFA 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 of the amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply a de minimis indirect cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal award
programs of Burnet Consolidated Independent School District. The District’s reporting entity is defined in Note I
of the financial statements. Federal awards received directly from federal agencies, as well as federal awards
passed through other government agencies, are included on the SEFA.
Title: BASIS OF ACCOUNTING
Accounting Policies: The SEFA is presented using the modified accrual basis of accounting. The District’s significant accounting
policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial
statements. The SEFA 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 of the amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply a de minimis indirect cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The SEFA is presented using the modified accrual basis of accounting. The District’s significant accounting
policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial
statements. The SEFA 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 of the amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
Title: INDIRECT COSTS
Accounting Policies: The SEFA is presented using the modified accrual basis of accounting. The District’s significant accounting
policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial
statements. The SEFA 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 of the amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply a de minimis indirect cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The District did not elect to apply a de minimis indirect cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
Title: PASS-THROUGH EXPENDITURES
Accounting Policies: The SEFA is presented using the modified accrual basis of accounting. The District’s significant accounting
policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial
statements. The SEFA 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 of the amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply a de minimis indirect cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
None of the federal programs expended by the District were provided to subrecipients.
Title: GRANTOR AGENCY AUDITS AND ADJUSTMENTS
Accounting Policies: The SEFA is presented using the modified accrual basis of accounting. The District’s significant accounting
policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial
statements. The SEFA 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 of the amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply a de minimis indirect cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The District participates in numerous state and federal grant programs, which are governed by various rules and
regulations of the grantor agencies. Costs charged to the respective grant programs are subject to audit and
adjustments by the grantor agencies; therefore, to the extent that the District has not complied with rules and
regulations governing the grants, refund of any money received may be required and the collectability of any
related receivable at August 31, 2024, may be impaired. In the opinion of the District, there are no significant
contingent liabilities relating to compliance with the rules and regulations governing the respective grants;
therefore, no provision has been recorded in the accompanying financial statements for such contingencies.
Title: RECONCILIATION OF FEDERAL REVENUES AND THE SCHEDULE OF EXPENDITURES OF FEDERAL
AWARDS
Accounting Policies: The SEFA is presented using the modified accrual basis of accounting. The District’s significant accounting
policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial
statements. The SEFA 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 of the amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply a de minimis indirect cost rate as described at 2 CFR §200.414(f)—Indirect
(F&A) costs.
The following is a reconciliation of federal revenues and the SEFA for the year ended August 31, 2024:
Total federal revenues reported on Exhibit C-3 $ 5,669,148
School health and related services (SHARS) (136,352)
Total expenditures of federal awards reported on SEFA, Exhibit K-1 $ 5,532,796