Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District's cognizant agency is Florida Department of Education ("FLDOE"). For the fiscal year 2023-2024, FLDOE approved a restricted indirect cost rate of 4.37%. As a result of the approved indirect cost rate, the District does not have the option to elect the 10% de minimis rate in accordance with Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the District under programs of the Federal government for the fiscal year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 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.
The District did not expend federal awards related to loans or loan guarantees during the year ended June 30, 2024.
The District does not provide, purchase, or sell any federally funded insurance.
Title: Noncash Assistance - National School Lunch Program
Accounting Policies: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District's cognizant agency is Florida Department of Education ("FLDOE"). For the fiscal year 2023-2024, FLDOE approved a restricted indirect cost rate of 4.37%. As a result of the approved indirect cost rate, the District does not have the option to elect the 10% de minimis rate in accordance with Uniform Guidance.
The District received $864,570 of donated food during the fiscal year. Donated food commodities are valued at fair value as determined at time of donation.
Title: Head Start
Accounting Policies: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District's cognizant agency is Florida Department of Education ("FLDOE"). For the fiscal year 2023-2024, FLDOE approved a restricted indirect cost rate of 4.37%. As a result of the approved indirect cost rate, the District does not have the option to elect the 10% de minimis rate in accordance with Uniform Guidance.
Expenditures include $2,053,207 for grant number/program year 04CH011424/04 and $1,190,726 for grant number/program year 04CH011424/05.