Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis.
When applicable, 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. No
federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity
of the District under programs of the federal government for the year ended June 30, 2024. The information 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 District, it is not intended to and
does not present the financial position, or changes in net position or fund balance of the District.
Title: Note 2 - Significant Accounting Policies
Accounting Policies: Expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis.
When applicable, 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. No
federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis cost rate.
Expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis.
When applicable, 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. No
federal financial assistance has been provided to a subrecipient.
Title: Note 3 - Indirect Cost Rate
Accounting Policies: Expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis.
When applicable, 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. No
federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis cost rate.
The District has not elected to use the 10% de minimis cost rate.