Notes to SEFA
Title: Basis of Presentation
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement. The amounts reported as federal expenditures were obtainedfrom the Districts financial reporting system, which is the source of the Districts basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not use the de minimis cost rate.
BASIS OF PRESENTATION: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of the District under programs of the federal government for the year ended June 30, 2022. 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). Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies are included in the Schedule. Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.