Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of the Board of Education of Worcester County, under program of the federal government for the year ended June 30, 2024 in accordance with the requirement of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirement , Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 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.
De Minimis Rate Used: N
Rate Explanation: The Board of Education of Worcester County has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.