Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. 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. The School District has elected to use the 10‐percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The School District has elected 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 the School District under programs of the federal government for the year ended June
30, 2023. The information in this 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). 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: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. 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. The School District has elected to use the 10‐percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The School District has elected to use the 10‐percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. 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. The School District has elected to use the 10‐percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Federal Reimbursement
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. 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. The School District has elected to use the 10‐percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The School District has elected to use the 10‐percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
Federal reimbursements are not based upon specific expenditures. Therefore, the amounts reported here
represent cash received rather than federal expenditures.
Title: Federal Surplus Property
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. 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. The School District has elected to use the 10‐percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The School District has elected to use the 10‐percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
The amount reported represents 23.3% of the original acquisition cost of the federal surplus property
received by the School District. (Original acquisition cost is provided by Federal Surplus Property. It is not
what the school actually paid for the item.)