Notes to SEFA
Title: Note 1
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Revenue from federal awards is
recognized when the District has done everything necessary to establish its right to revenue. For
governmental funds, revenue from federal awards is recognized when it is both measurable and
available. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “schedule”) includes the federal grant
activity of Central DeWitt Community School 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 the operations of Central DeWitt Community School District, it is not
intended to and does not present the financial position, changes in the net position or cash flows of
Central DeWitt Community School District.
Title: Note 2
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Revenue from federal awards is
recognized when the District has done everything necessary to establish its right to revenue. For
governmental funds, revenue from federal awards is recognized when it is both measurable and
available. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Revenue from federal awards is
recognized when the District has done everything necessary to establish its right to revenue. For
governmental funds, revenue from federal awards is recognized when it is both measurable and
available. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred.
Title: Note 3
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types
of expenditures are not allowable or are limited as to reimbursement. Revenue from federal awards is
recognized when the District has done everything necessary to establish its right to revenue. For
governmental funds, revenue from federal awards is recognized when it is both measurable and
available. Expenditures of federal awards are recognized in the accounting period when the liability is
incurred.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.