Notes to SEFA
Title: NOTE A - GENERAL
Accounting Policies: The schedule of expenditures of federal awards is presented using the modified accrual basis of accounting as described in the notes to the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of the Bensalem Township School District. Federal awards passed through other government agencies are included on the schedule.
Title: NOTE B - BASIS OF ACCOUNTING
Accounting Policies: The schedule of expenditures of federal awards is presented using the modified accrual basis of accounting as described in the notes to the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting as described in the notes to the basic financial statements.
Title: NOTE C - NON-MONETARY ASSISTANCE
Accounting Policies: The schedule of expenditures of federal awards is presented using the modified accrual basis of accounting as described in the notes to the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Commonwealth of Pennsylvania distributes federal surplus food to institutions (schools, hospitals, and prisons) and to the needy. Expenditures reported in the schedule of expenditures of federal awards under CFDA #10.555 (Value of USDA Donated Commodities) represent surplus food consumed by the District during the 2023-2024 fiscal year. The District has food commodities totaling $102,896 in inventory as of June 30, 2024.