Notes to SEFA
Accounting Policies: Note - Basis of Presentation
The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal grant activity of the Alamo City School Board and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Guidace, Audits of States, Local Governments, Non-Profit Organizations, and the State of Tennessee Department of Audit, Audit Manual. Therefore, some amounts presented in the schedule may differ from amounts presented in the financial statemenst. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowed or are limited as to reimbursement. The School has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Note - Basis of Presentation
The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal grant activity of the Alamo City School Board and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Guidace, Audits of States, Local Governments, Non-Profit Organizations, and the State of Tennessee Department of Audit, Audit Manual. Therefore, some amounts presented in the schedule may differ from amounts presented in the financial statemenst. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowed or are limited as to reimbursement. The School has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.