Notes to SEFA
Title: Note 3: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Exceptional Children Have Opportunities and is presented on the modfied cash Basis of Accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Of the federal expenditures presented in the schedule, Exceptional Children Have Opportunities provided federal awards to subrecipients as follows: NONE
Title: Note 4: Non-Cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Exceptional Children Have Opportunities and is presented on the modfied cash Basis of Accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following amounts were expended in the form of non-cash assistance by Exceptional Children Have Opportunities and should be included in the Schedule of Expenditures of Federal Awards:
NON-CASH COMMODITIES (AL 10.555)**: $8,955
OTHER NON-CASH ASSISTANCE - DEPT. OF DEFENSE FRUITS & VEGETABLES: $0
Total Non-Cash $8,955
Title: Note 5: Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Exceptional Children Have Opportunities and is presented on the modfied cash Basis of Accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the Basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Insurance coverage in effect paid with Federal funds during the fiscal year:
Property $0
Auto $0
General Liability $0
Workers Compensation $0
Loans/Loan Guarantees Outstanding at June 30: $0
District had Federal grants requiring matching expenditures No