Notes to SEFA
Title: DISASTER GRANTS – PUBLIC ASSISTANCE
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, wherein certain types of expenditures are not allowable or limited as to reimbursement.
Matching costs (the District’s share of certain program costs) are not included in the reported expenditures.
Pass-through numbers are presented where available.
The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the District’s financial reporting system.
Non-cash assistance is reported in the Schedule at the fair market value of commodities used, which are amounts provided by New York State under the National School Lunch Program.
De Minimis Rate Used: N
Rate Explanation: North Shore Central School District did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures for the Federal Emergency Management Agency (FEMA) grants are recognized on the Schedule in the year the related project worksheet is approved by the oversight entity or the year expended, whichever is later. The expenditures recorded on the Schedule for the year ended June 30, 2024 are related to multiple project worksheets associated with expenses sustained/incurred due to the Coronavirus pandemic. Reimbursable expenditures for the year ended June 30, 2024 totaled $155,591.
Title: OTHER DISCLOSURES
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, wherein certain types of expenditures are not allowable or limited as to reimbursement.
Matching costs (the District’s share of certain program costs) are not included in the reported expenditures.
Pass-through numbers are presented where available.
The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the District’s financial reporting system.
Non-cash assistance is reported in the Schedule at the fair market value of commodities used, which are amounts provided by New York State under the National School Lunch Program.
De Minimis Rate Used: N
Rate Explanation: North Shore Central School District did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipment purchased with federal funds has only a nominal value, and is covered by the District’s casualty insurance policies.
There were no loans or loan guarantees outstanding at year end.
Title: SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS RECONCILIATION
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, wherein certain types of expenditures are not allowable or limited as to reimbursement.
Matching costs (the District’s share of certain program costs) are not included in the reported expenditures.
Pass-through numbers are presented where available.
The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the District’s financial reporting system.
Non-cash assistance is reported in the Schedule at the fair market value of commodities used, which are amounts provided by New York State under the National School Lunch Program.
De Minimis Rate Used: N
Rate Explanation: North Shore Central School District did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule reflects only those expenditures that are subject to the requirements of the
Uniform Guidance, and thus excludes certain items reported in the District's financial statements.
For the fiscal year ended June 30, 2024, the District reported $110,521 in surplus food commodities
received from the federal government as federal sources revenue in its governmental funds financial
statements. However, in accordance with the Uniform Guidance, the value of surplus food commodities
used during the fiscal year is required to be reported as federal awards expended. Therefore, an adjustment
of $2,473 was reflected, resulting in a total of $112,994 reported as non-cash assistance (food distribution)
for surplus food commodities used in the National School Lunch Program, ALN: 10.555.
Additionally, for the fiscal year ended June 30, 2024, the District received $60,463 in E-Rate funding, which
is reported as federal sources revenue in the governmental funds financial statements. However, E-Rate
program reimbursements are not classified as federal awards expended in accordance with the Uniform
Guidance.
The following is a reconciliation of the federal revenues reported in the financial statements to federal
awards expended, as reported in the Schedule: