Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting .
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 (the Schedule) includes the federal award activity of Highland Local School District (the School District) under programs of the federal government for the 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 the operations of the School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School District.
Title: NOTE D - CHILD NUTRITION CLUSTER
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting .
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 School District commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When reporting expenditures on this Schedule, the School District assumes it expends federal monies first.
Title: NOTE E - FOOD DONATION PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting .
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 School District reports commodities consumed on the Schedule at the fair value. The School District allocated donated food commodities to the respective program that benefitted from the use of those donated food commodities.