Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm Community Schools’ financial statements. Yelm Community Schools 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: Y
Rate Explanation: Yelm Community Schools has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools used the federal restricted rate of 3.24% and the federal unrestricted rate of 16.99%.
This Schedule is prepared on the same basis of accounting as the Yelm
Community Schools’ financial statements. Yelm Community Schools 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.
Title: FEDERAL DEMINIMIS INDIRECT RATE
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm Community Schools’ financial statements. Yelm Community Schools 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: Y
Rate Explanation: Yelm Community Schools has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools used the federal restricted rate of 3.24% and the federal unrestricted rate of 16.99%.
Yelm Community Schools has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools used the federal restricted rate of 3.24% and the federal unrestricted rate of 16.99%.
Title: PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm Community Schools’ financial statements. Yelm Community Schools 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: Y
Rate Explanation: Yelm Community Schools has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools used the federal restricted rate of 3.24% and the federal unrestricted rate of 16.99%.
The amounts shown as current year expenses represent only the federal award portion of the program costs. Entire program costs, including the Yelm Community Schools’ 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: NONCASH AWARDS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm Community Schools’ financial statements. Yelm Community Schools 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: Y
Rate Explanation: Yelm Community Schools has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools used the federal restricted rate of 3.24% and the federal unrestricted rate of 16.99%.
The amount of food commodities reported on the schedule ($246,213.24) is the value of commodities distributed by Yelm Community Schools during the current year and priced as prescribed by USDA.
Title: SCHOOLWIDE PROGRAMS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm Community Schools’ financial statements. Yelm Community Schools 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: Y
Rate Explanation: Yelm Community Schools has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools used the federal restricted rate of 3.24% and the federal unrestricted rate of 16.99%.
Yelm Community Schools operates a “schoolwide program” in all six elementary buildings. 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 Yelm Community Schools in its schoolwide program: Title I
(84.010) $1,099,120.61.
Title: TRANSFERABILITY
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Yelm Community Schools’ financial statements. Yelm Community Schools 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: Y
Rate Explanation: Yelm Community Schools has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Yelm Community Schools used the federal restricted rate of 3.24% and the federal unrestricted rate of 16.99%.
As allowed by federal regulations, Yelm Community Schools elected to transfer
program funds. The district expended $82,450 from Title 4, Part A (84.424) on
allowable activities of Title 2, Part A (84.367). This amount is reflected in the
expenditures of Title 2, Part A (84.367).