Notes to SEFA
Title: Note 3: Risk-Based Audit Approach
Accounting Policies: The Neshaminy School District (the "District") as the reporting entity for financial reporting purposes is defined in Not 1B to the District's basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the District's reporting entity is the same that was used for financial reporting. The accompnay Schedule of Expenditures of Federal Awards included the grant activity of the School District and is presented using the modified accrual basis of accounting, which is described in Note 1D to the District's basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The School District did not use the 10% de minimis indirect cost rate.
The 2023 threshold for determining Type A and Type B Programs is $750,000. The District had 3 Type A Programs. The following Type A programs were aduited as major: Education Stabilization Fund - ALN #84.425, IDEA Cluster - ALN #84.173, 84.179 and 84.027, Child Nutrition Cluster - ALN #10.553 and 10.555. The amount expended under programs audited as major federal programs for the year ended June 30, 2023 totaled $3,388,052 or 80.3% of total federal awards expended.
Title: Note 4: Medical Assistance
Accounting Policies: The Neshaminy School District (the "District") as the reporting entity for financial reporting purposes is defined in Not 1B to the District's basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the District's reporting entity is the same that was used for financial reporting. The accompnay Schedule of Expenditures of Federal Awards included the grant activity of the School District and is presented using the modified accrual basis of accounting, which is described in Note 1D to the District's basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The School District did not use the 10% de minimis indirect cost rate.
Access reimbursement received under ALN #93.778, Revenue Code 8810 are classified as fee-for-service revenues and are not recognized as federal awards for the purpose of reporting on the Schedule of Expenditures of Federal Awards. Access reimbursement for administrative claiming portion under ALN 93.778, Code 8820 is classified as federal awards and is reported on the Schedule of Expenditures of Federal Awards.