Notes to SEFA
Accounting Policies: NOTE A GENERALThe accompanying schedule of expenditures of federal awards includes the amount of federal grants expended by Delta County Joint School District No. 50J, during the year ended June 30, 2022. The information in the 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. Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.The District did not pass through any funds to subrecipients.Commodities are valued based on current market value and totaled $142,762. NOTE B BASIS OF ACCOUNTINGThe accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting. Non-cash expenditures are included in the schedule.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.