Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (the
"Schedule") are reported on the 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.
De Minimis Rate Used: N
Rate Explanation: Oberon Public School District No. 16 has not elected to use the 10-percent de minimis cost rate
as allowed under Uniform Guidance.
The Schedule includes the federal grant activity of Oberon Public School District No. 16 (the
“District”) under programs of the federal government for 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). Because the schedule presents only a
selected portion of the operations of the Oberon Public School District No. 16, it is not intended
to and does not present the financial position or changes in net position of the District.
Title: NONMONETARY TRANSACTIONS
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (the
"Schedule") are reported on the 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.
De Minimis Rate Used: N
Rate Explanation: Oberon Public School District No. 16 has not elected to use the 10-percent de minimis cost rate
as allowed under Uniform Guidance.
The District receives commodities through the food distribution program and the assistance is
valued at the fair value of the commodities received and disbursed.
Title: PASS-THROUGH ENTITIES
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (the
"Schedule") are reported on the 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.
De Minimis Rate Used: N
Rate Explanation: Oberon Public School District No. 16 has not elected to use the 10-percent de minimis cost rate
as allowed under Uniform Guidance.
All pass-through entities listed above use the same AL numbers as the federal grantors to identify
these grants and have not assigned any additional identifying numbers.