Notes to SEFA
Accounting Policies: 1. GENERALThe Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all applicable federalaward programs of the Point Isabel Independent School District (the District). The Districts reporting entity isdefined in Note I of the financial statements. Federal awards received directly from federal agencies, as wellas federal awards passed through other government agencies, are included on the Schedule.In accordance with TEA instructions, federal funds for the School Health and Related Services (SHARS) havebeen excluded from the Schedule.Federal funds for Child Nutrition Cluster, School Health and Related Services (SHARS), MedicaidAdministrative Claims (MAC) are reported in the General Fund. All other federal programs are accounted forand reported in Special Revenue Funds.2. BASIS OF ACCOUNTING AND PRESENTATIONThe Schedule is presented using the modified accrual basis of accounting. The Districts significantaccounting policies, including the modified accrual basis of accounting, are presented in Note I of the basicfinancial statements.The Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Therefore, some of the amounts presented in the Schedule may differ from amountspresented in, or used in the preparation of, the financial statements.3. PASS-THROUGH EXPENDITURESNone of the federal programs expended by the District were provided to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.