Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles
contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of the Miller County Board of Education (the
"Board") under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented 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 Board, it is not intended to and does not present the financial
position or changes in net position of the Board.
Title: Elementary and Secondary School Emergency Relief Fund Activity
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles
contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
For the year ended June 30, 2024, the amount reflected on the Schedule for the American Rescue Plan Elementary and Secondary School Emergency Relief Fund
(ALN 84.425D/U) includes $99,167.00 of approved eligible expenditures that were incurred in a prior fiscal year.
Title: Transfers Between Programs
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles
contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Funds totaling $34,546.00 were transferred from the Student Support and Academic Enrichment Program program (ALN 84.424A) and funds totaling $60,297.00
were transferred from the Supporting Effective Instruction State Grants program (ALN 84.367A) and expended in the Title I Grants to Local Educational Agencies
program (ALN 84.010A) during Fiscal Year 2024.