Notes to SEFA
Title: NOTE 1. BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting as used in the governmental finan-cial statements. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Fed-eral Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The School District did not utilize an indirect cost rate as allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Box Elder School District No. 13 & G (School District) under programs of the federal government for the fiscal year ended June 30, 2024. The in-formation 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 the operations of the School District, it is not intended to and does not present the financial position, changes in net position or cash flows of the School District.
Title: NOTE 4. FOOTNOTES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting as used in the governmental finan-cial statements. Such expenditures are recognized following, as applicable, either the cost principles in Office of Management and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Fed-eral Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The School District did not utilize an indirect cost rate as allowed under Uniform Guidance.
Fn1 – No separate funds or accounts maintained; the School District assumes first in first out for program money.
Fn2 – The value of commodities (revenues, expenses or inventory) are not displayed in the basic financial statements.
N/A – Not applicable/available.