Notes to SEFA
Title: NOTE 3 - PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Chimacum School District’s (CSD) financial statements. CSD 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 nonfederal sources.
De Minimis Rate Used: N
Rate Explanation: CSD has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. CSD used the federal (restricted/unrestricted) rate of 4.03/18.4%.
The amounts shown as current year expenses represent only the federal award portion of the program costs. Entire program costs, including CSD’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: This Schedule is prepared on the same basis of accounting as the Chimacum School District’s (CSD) financial statements. CSD 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 nonfederal sources.
De Minimis Rate Used: N
Rate Explanation: CSD has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. CSD used the federal (restricted/unrestricted) rate of 4.03/18.4%.
The amount of commodities reported on the schedule is the value of commodities distributed by CSD during the current year and priced as prescribed by OSPI and SAO.