Notes to SEFA
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award
activity of Elida Local School District (the District) under programs of the federal government for the year
ended June 30, 2024. The information on this Schedule is prepared in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards (Uniform 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, changes in net position, or cash flows of the District.
NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance wherein certain types of
expenditures may or may not be allowable or may be limited as to reimbursement.
NOTE C – INDIRECT COST RATE
The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
NOTE D - CHILD NUTRITION CLUSTER
The District commingles cash receipts from the U.S. Department of Agriculture with similar State grants.
When reporting expenditures on this Schedule, the District assumes it expends federal monies first.
NOTE E – FOOD DONATION PROGRAM
The District reports commodities consumed on the Schedule at the entitlement value. The District allocated
donated food commodities to the respective program that benefitted from the use of those donated food
commodities.
NOTE F - MATCHING REQUIREMENTS
Certain Federal programs require the District to contribute non-Federal funds (matching funds) to support
the Federally-funded programs. The District has met its matching requirements. The Schedule does not
include the expenditure of non-Federal matching funds
De Minimis Rate Used: N
Rate Explanation: n/a