Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: The accompanying Schedule of Federal Awards (Schedule) includes the federal grant activity of the Las Vegas City Schools (District) and is presented on the modified accrual basis of accounting, which is the same basisas was used to prepare the fund financial statements. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States and Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The district opted not to use the 10% de minimus rate for charging indirect costs to federal programs.
The accompanying Schedule of Federal Awards (Schedule) includes the federal grant activity of the Las Vegas City Schools (District) and is presented on the modified accrual basis of accounting, which is the same basisas was used to prepare the fund financial statements. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States and Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
Title: Note 2. Subreceipients
Accounting Policies: The accompanying Schedule of Federal Awards (Schedule) includes the federal grant activity of the Las Vegas City Schools (District) and is presented on the modified accrual basis of accounting, which is the same basisas was used to prepare the fund financial statements. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States and Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The district opted not to use the 10% de minimus rate for charging indirect costs to federal programs.
The District did not provide any federal awards to subreceipients during the year.
Title: Note 3. Non-Cash Federal Assistance
Accounting Policies: The accompanying Schedule of Federal Awards (Schedule) includes the federal grant activity of the Las Vegas City Schools (District) and is presented on the modified accrual basis of accounting, which is the same basisas was used to prepare the fund financial statements. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States and Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The district opted not to use the 10% de minimus rate for charging indirect costs to federal programs.
The District receives USDA Commondities for use of sponsoring the National School Lunch and Breakfast programs. The value of commodites received for the year ended June 30, 2021 was $55,583 and is reported in the Schedule of Expenditures of Federal Awards under the Department of Agriculture Commodities program, SFDS number 10.550. Commodities are recorded as revenues and expenditures in the food service fund.
Title: Note 4. Other
Accounting Policies: The accompanying Schedule of Federal Awards (Schedule) includes the federal grant activity of the Las Vegas City Schools (District) and is presented on the modified accrual basis of accounting, which is the same basisas was used to prepare the fund financial statements. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States and Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The district opted not to use the 10% de minimus rate for charging indirect costs to federal programs.
The district opted not to use the 10% de minimus rate for charging indirect costs to federal programs.