Notes to SEFA
Title: Note 1 - Basis of Accounting
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Montesano School District’s financial statements. The Montesano School 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 Montesano School 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
3.08%
This Schedule is prepared on the same basis of accounting as the Montesano School District’s financial statements. The Montesano School 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: Note 2 - Federal De minimis Indirect Rate
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Montesano School District’s financial statements. The Montesano School 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 Montesano School 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
3.08%
The Montesano School 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
3.08%
Title: NOTE 3—PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Montesano School District’s financial statements. The Montesano School 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 Montesano School 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
3.08%
The amounts shown as current year expenses represent only the federal award portion of the
program costs. Entire program costs, including the Montesano School 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 not allowable or are limited as to reimbursement.
Title: NOTE 4—NONCASH AWARDS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Montesano School District’s financial statements. The Montesano School 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 Montesano School 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
3.08%
The amount of commodities reported on the schedule is the value of commodities distributed by
The Montesano School District during the current year and priced as prescribed by the USDA.
Title: NOTE 5—SCHOOLWIDE PROGRAMS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Montesano School District’s financial statements. The Montesano School 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 Montesano School 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
3.08%
The Montesano School District operates a “schoolwide program” at Simpson Elementary school. Using federal funding, schoolwide programs are designed 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 Montesano School District in its schoolwide program: Title I (84.010) $342,360.