Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting. 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 does not draw for indirect administrative expenses
Expenditures reported in the schedule are reported on the modified accrual basis of accounting. 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: Indirect Cost Rate
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting. 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 does not draw for indirect administrative expenses
The District does not draw for indirect administrative expenses and has not elected to use the ten percent de minimus cost rate.
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the schedule are reported on the modified accrual basis of accounting. 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 does not draw for indirect administrative expenses
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, 2023. 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 Organization, it is not intended to
and does not present the financial position, changes in net assets, or cash flows of the Organization.