Notes to SEFA
Title: NOTE 3—PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING
This Schedule is prepared on the same basis of accounting as the Newport School District's financial statements. Newport 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: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
The Newport School District has elected to not use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. Newport School District used the indirect cost rate of 1.41% percent.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Newport 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: NOTE 1—BASIS OF ACCOUNTING
This Schedule is prepared on the same basis of accounting as the Newport School District's financial statements. Newport 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: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
The Newport School District has elected to not use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. Newport School District used the indirect cost rate of 1.41% percent.
The amount of commodities reported on the schedule is the value of commodities distributed by Newport School District during the current year and priced as prescribed by first in first out inventory and cost method.
Title: NOTE 5—SCHOOLWIDE PROGRAMS
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING
This Schedule is prepared on the same basis of accounting as the Newport School District's financial statements. Newport 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: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
The Newport School District has elected to not use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. Newport School District used the indirect cost rate of 1.41% percent.
Newport School District operates a “schoolwide program” in one elementary building and one middle school building. 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 Newport School District in its schoolwide program: Title I (84.010) ($ 657,765).
Title: NOTE 6—Transferability
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING
This Schedule is prepared on the same basis of accounting as the Newport School District's financial statements. Newport 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: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
The Newport School District has elected to not use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. Newport School District used the indirect cost rate of 1.41% percent.
As allowed by federal regulations, the Newport School District elected to transfer program funds. The district expended $96,375.92 from its (Title II, Part A Supporting Effective Instruction State Grants (84.367)) on allowable activities of the (Title I, Part A Grants to Local Educational Agencies (84.010)). This amount is reflected in the expenditures of Title I, Part A Grants to Local Educational Agencies (84.010.)
Title: NOTE 7—SMALL RURAL SCHOOLS ACHIEVEMENT (SRSA)
Accounting Policies: NOTE 1—BASIS OF ACCOUNTING
This Schedule is prepared on the same basis of accounting as the Newport School District's financial statements. Newport School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: NOTE 2—FEDERAL DE MINIMIS INDIRECT RATE
The Newport School District has elected to not use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. Newport School District used the indirect cost rate of 1.41% percent.
As allowed by federal regulations, Newport School District expended ($ 27,375) from its Small
Rural Schools Achievement (SRSA) Alternative Uses of Funds Program (84.358) and in the
Student Support and Academic Achievement Enrichment Program (84.424) expended ($55,470.20) This amount is reflected in the expenditures of 84.424