Notes to SEFA
Title: FEDERAL EXPENDITURES
Accounting Policies: The District uses the modified accrual method of recording transactions. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The amount expended includes $110,699 claimed as an indirect cost recovery using an approved indirect cost rate of 3.68 percent. The District has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards and Certain State Grants reflects federal expenditures for all individual grants which were active during the fiscal year. Additionally, the Schedule reflects expenditures for certain state grants.
Title: NONMONETARY FEDERAL AWARDS – DONATED FOOD
Accounting Policies: The District uses the modified accrual method of recording transactions. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The amount expended includes $110,699 claimed as an indirect cost recovery using an approved indirect cost rate of 3.68 percent. The District has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The United States Department of Agriculture distributes federal surplus food to institutions (schools, hospitals and prisons) and to the needy. Expenditures reported in the Schedule of Expenditures of Federal Awards and Certain State Grants under ALN #10.555 USDA Commodities represent federal surplus food consumed by the District during the 2023-2024 fiscal year.
Title: ACCESS PROGRAM
Accounting Policies: The District uses the modified accrual method of recording transactions. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The amount expended includes $110,699 claimed as an indirect cost recovery using an approved indirect cost rate of 3.68 percent. The District has not elected to use the 10-percent de minimis indirect cost rate as 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 $1,591,283.
Title: QUALIFIED SCHOOL CONSTRUCTION BONDS PROGRAM
Accounting Policies: The District uses the modified accrual method of recording transactions. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The amount expended includes $110,699 claimed as an indirect cost recovery using an approved indirect cost rate of 3.68 percent. The District has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The District participates in the Qualified School Construction Bonds ("QSCB") program sponsored by the State Public School Authority ("SPSBA"). In conjunction with the QSCB Program, the District receives subsidy reimbursements for a portion of the interest payments made under its loan agreements with the SPSBA. Reimbursements are federal source revenues but are not considered federal financial assistance. The amount of QSCB subsidy payments recognized for the year ended June 30, 2024 was $3,101,908.