Notes to SEFA
Title: NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Accounting Policies: Expenditures reported in the Schedule are reported on the regulatory basis of accounting consistent with the preparation of the combined financial states except for non-monetary assistance noted in Note C. 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. The School has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Oklahoma State Department of Education provides an indirect cost percentage.
Note A: Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Edmond lndependeut Scbool Disllict No. 12, Oklahoma County, Oklahoma under programs of the federal govermnent
for the year ended June 30, 2024. The infonnation ins this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles and Audit Requirements for Federal Award (Uniform Guidance). Because the schedule presents only a selected portion of U,e operations of Edmond Independent School District No. 12 Oklahoma Cowity,
Oklahoma, it is not intended to and does not present the basic financial statements as listed in the table of contents.
Note B: Summary of Significant Accounting Policies
Expenditures reported on the schedule of expenditures of federal awards are reported using the same regulatory basis of accounting as used in the financial statements. The regulatory basis, which is fully desciibed in
the notes to the financial statements, includes encumbrances at year end as expenditures. Expenditures are recoguized following the cost principles containd in the Uniform Guidance, where certain types of expendiutres
are not allowaable or are limited as to reimbursement. Norunonetaty assistance is reported in the schedule at the fair market value of commodities received.
Note C: Indirect Cost Rate
Edmond Independent School Disllict No. 12 Oklahoma County, Oklahoma bas elected not to use the 10% de mininris indirect cost rate allowed under the UnifORm Guidance.
Note D: Subrecipients
Edmond Independent School Disllict No. 12 Oklahoma County, Oklahoma did not have any awards that have been passed through to subrecipients.