Notes to SEFA
Title: NON-MONETARY ASSISTANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the
modified accrual basis of accounting for all federal awards charged to governmental funds
and on the accrual basis of accounting for all federal awards charged to proprietary funds,
as contemplated by accounting principles generally accepted in the United States of
America.
De Minimis Rate Used: N
Rate Explanation: The District did not charge any indirect costs to any of their federal grants and programs
during this fiscal year. As such, the District has not elected to use the 10% de minimus
indirect cost rate allowed under the Uniform Guidance.
The District received non-monetary assistance from the U.S. Department of Agriculture
(“USDA”) of $74,107 in the form of commodities. These commodities are valued at the USDA’s
approximate costs. During the 2023 - 2024 fiscal year, the District used $74,000 in
commodities and established a year-end inventory of $1,341 at June 30, 2024.
The amount recognized as revenue in the schedule of expenditures of federal awards,
under the USDA heading, represents the commodities used versus the commodities
received, which are recognized as revenue in the basic financial statements.
Title: IDEA REVENUE PASSED THROUGH COLONIAL INTERMEDIATE UNIT 20
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the
modified accrual basis of accounting for all federal awards charged to governmental funds
and on the accrual basis of accounting for all federal awards charged to proprietary funds,
as contemplated by accounting principles generally accepted in the United States of
America.
De Minimis Rate Used: N
Rate Explanation: The District did not charge any indirect costs to any of their federal grants and programs
during this fiscal year. As such, the District has not elected to use the 10% de minimus
indirect cost rate allowed under the Uniform Guidance.
IDEA federal revenue passed through Colonial Intermediate Unit 20 in the amount of
$257,556 has been reported as local revenue in the financial statements.
Title: ACCESS PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the
modified accrual basis of accounting for all federal awards charged to governmental funds
and on the accrual basis of accounting for all federal awards charged to proprietary funds,
as contemplated by accounting principles generally accepted in the United States of
America.
De Minimis Rate Used: N
Rate Explanation: The District did not charge any indirect costs to any of their federal grants and programs
during this fiscal year. As such, the District has not elected to use the 10% de minimus
indirect cost rate allowed under the Uniform Guidance.
The ACCESS Program is a medical assistance program that reimburses local educational
agencies for direct eligible health-related services provided to enrolled special needs
students. Reimbursements are federal source revenues but are classified as fee-for-service
and are not considered federal financial assistance. The amount of ACCESS funding
recognized for the year ended June 30, 2024 was $7,381.