Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of
accounting. Such expenditures are recognized following the cost principles contained in
the Uniform Guidance. Under these principles, certain types of expenditures are not
allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts
reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
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 in this Schedule is presented in
accordance with the requirements of the 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 position, or cash flows of the District.
Title: Payments to Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of
accounting. Such expenditures are recognized following the cost principles contained in
the Uniform Guidance. Under these principles, certain types of expenditures are not
allowable or are limited as to reimbursement. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts
reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The District did not make any payments to subrecipients.