Notes to SEFA
Title: Reporting Entity
Accounting Policies: Expenditures reported on the Schedule are reported on the
accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Regional School Unit No. 73 has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule includes all federal awards
programs of Regional School Unit No. 73 for the fiscal year ended June 30, 2024. The reporting entity is defined in Notes to Financial Statements.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the
accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Regional School Unit No. 73 has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The information in the accompanying Schedule of Expenditures of Federal Awards is presented in accordance with Uniform Guidance.