Notes to SEFA
Accounting Policies: Note 1 - Basis of Presentation: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of the Paris Special School District and is presented on the accrual basis of
accounting, The information in this schedule is presented in accordance with the requirements of Uniform Guidance; Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Note 2 - Summary of Significant 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 Guidence, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The District 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 1 - Basis of Presentation: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of the Paris Special School District and is presented on the accrual basis of
accounting, The information in this schedule is presented in accordance with the requirements of Uniform Guidance; Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Note 2 - Summary of Significant 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 Guidence, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. The District has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.