Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The Schedule is prepared using the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the District has met the qualifications for the respective grant. Grant revenues for the Food Donation Program are based upon comodities received, at amounts per standard price listing, published quarterly by the United States Department of Agriculture (the "USDA").
De Minimis Rate Used: N
Rate Explanation: Does not apply
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of the District under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget (OMB) Uniform Grant 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 and changes in net position of the District. All federal programs considered active during the year ended June 30, 2024, are reflected on the Schedule. An active federal program is defined as a federal program for which there were receipts or disbursements of funds or accrued (deferred) grant revenue adjustments during the fiscal year or a federal program considered as not completed or closed out at the beginning of the fiscal year. The Schedule is prepared using the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the District has met the qualifications for the respective grant. Grant revenues for the Food Donation Program are based upon comodities received, at amounts per standard price listing, published quarterly by the United States Department of Agriculture (the "USDA"). In addition, there is no federal insurance in effect during the year and loan or loan guarantee outstanding at year end.
Title: Accrued and Deferred Reimbursements
Accounting Policies: The Schedule is prepared using the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the District has met the qualifications for the respective grant. Grant revenues for the Food Donation Program are based upon comodities received, at amounts per standard price listing, published quarterly by the United States Department of Agriculture (the "USDA").
De Minimis Rate Used: N
Rate Explanation: Does not apply
Various reimbursement procedures are used for Federal awards received by the District. Consequently, timing differences between expenditures and program reimbursements can exist at the beginning and end of the year. Accrued balances at year end represent an excess of reimbursable expenditures over receipts to date. Deferred balance at year-end represent an excess of cash receipts over reimbursable expenditure to date. Generally, accrued or deferred balances covered by differences in the timing of cash receipts and expenditures will be reversed in the remaining grant period.
Title: Sub Recipients
Accounting Policies: The Schedule is prepared using the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the District has met the qualifications for the respective grant. Grant revenues for the Food Donation Program are based upon comodities received, at amounts per standard price listing, published quarterly by the United States Department of Agriculture (the "USDA").
De Minimis Rate Used: N
Rate Explanation: Does not apply
The District provided no federal awards to sub recipients for the year ended June 30, 2024.
Title: Cost Rate
Accounting Policies: The Schedule is prepared using the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the District has met the qualifications for the respective grant. Grant revenues for the Food Donation Program are based upon comodities received, at amounts per standard price listing, published quarterly by the United States Department of Agriculture (the "USDA").
De Minimis Rate Used: N
Rate Explanation: Does not apply
The District did not use the 10% de minimis cost rate for the current year.