Notes to SEFA
Title: Basis of Accounting
Accounting Policies: This Schedule is prepared on the same basis of accounting as the district's financial statements. The district uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The district used the federal restricted rate of 4.66% and an unrestricted rate of 17.57%.
This Schedule is prepared on the same basis of accounting as the district's financial statements. The district uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
Title: Federal De Minimis Indirect Rate
Accounting Policies: This Schedule is prepared on the same basis of accounting as the district's financial statements. The district uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The district used the federal restricted rate of 4.66% and an unrestricted rate of 17.57%.
The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The district used the federal restricted rate of 4.66% and an unrestricted rate of 17.57%.
Title: Program Costs/Matching Contributions
Accounting Policies: This Schedule is prepared on the same basis of accounting as the district's financial statements. The district uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The district used the federal restricted rate of 4.66% and an unrestricted rate of 17.57%.
The amounts shown as current year expenses represent only the federal award portion of the program costs. Entire program costs, including the district's local matching share, may be more than shown. Such expenditures are recognized following, the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are no allowable or are limited as to reimbursement.
Title: Noncash Awards
Accounting Policies: This Schedule is prepared on the same basis of accounting as the district's financial statements. The district uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The district used the federal restricted rate of 4.66% and an unrestricted rate of 17.57%.
The amount of commodities reported on the schedule is the value commodities distributed by the district during the current year and priced as prescribed by the United States Department of Agriculture.
Title: Schoolwide Programs
Accounting Policies: This Schedule is prepared on the same basis of accounting as the district's financial statements. The district uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The district used the federal restricted rate of 4.66% and an unrestricted rate of 17.57%.
The Lakewood School District operates a "schoolwide program" in three elementary buildings. Using federal funding, schoolwide programs are designated to upgrade an entire educational program within a school for all students, rather than limit services to certain targeted students. The following federal program amounts were expended by the Lakewood School District in its schoolwide program: Title I (84.010) $501,660.
Title: Transferability
Accounting Policies: This Schedule is prepared on the same basis of accounting as the district's financial statements. The district uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The district used the federal restricted rate of 4.66% and an unrestricted rate of 17.57%.
As allowed by federal regulations, the Lakewood School District elected to transfer program funds. The district expended $47,097 from its Title II, Part A Supporting Effective Instruction State Grants (84.367) on allowable activities of the Title IV, Part A Student Support and Academic Enrichment Program (84.424). This amount is reflected in the expenditures of Student Support and Academic Enrichment Program (84.424).