Notes to SEFA
Accounting Policies: Note 1. Basis of Presentation
This 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 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 operations of
the District, it is not intended to and does not present the financial position, changes in net assets, or cash flows
of the District.
Note 2. Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the regulatory basis of accounting. Such expenditures
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited to reimbursement.
Note 3. Indirect Cost Rate
The District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance. The District elected to use the rate of 2.00% to charge indirect costs to federal programs.
Note 4. Food Distribution
Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and
disbursed.
12
De Minimis Rate Used: Y
Rate Explanation: DISTRICT ELECTED 2% INDIRECT COST RATE