Notes to SEFA
Title: Noncash Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis
of accounting. Such expenditures are recognized following the cost
principles contained in the Uniform Guidance and/or OMB Circular A-87,
Cost Principles for State, Local and Indian Tribal Governments, wherein
certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Regional School Unit No. 1 has not elected to use the 10 percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
The Region School Unit No. 1 reports U.S. Department of Agriculture (USDA) Foods consumed on the Schedule at the fair value [or entitlement value]. The State of Maine allocated USDA Foods to the respective program(s) that benefitted from the use of those USDA Foods.