Notes to SEFA
Title: NOTE 3—PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Peninsula District’s financial statements. The district 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: N
Rate Explanation: The District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. (A) The district used the federal restricted rate of .26 percent for this program. (B) The district used the federal unrestricted rate from 2021-22 of 12.92 percent for this program. (C) The district used the federal unrestricted rate of 15.17 percent for this program. However, the program had additional direct expenditures which lowered the actual indirect cost rate for this program to 14.85 percent.
The amounts shown as current year expenses represent only the federal award portion of the program costs. Entire program costs, including the district’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 Peninsula District’s financial statements. The district 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: N
Rate Explanation: The District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. (A) The district used the federal restricted rate of .26 percent for this program. (B) The district used the federal unrestricted rate from 2021-22 of 12.92 percent for this program. (C) The district used the federal unrestricted rate of 15.17 percent for this program. However, the program had additional direct expenditures which lowered the actual indirect cost rate for this program to 14.85 percent.
The amount of food commodities reported on the schedule is the value of commodities distributed by the district during the current year and priced as prescribed by the USDA.
Title: NOTE 5—SCHOOLWIDE PROGRAMS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Peninsula District’s financial statements. The district 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: N
Rate Explanation: The District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. (A) The district used the federal restricted rate of .26 percent for this program. (B) The district used the federal unrestricted rate from 2021-22 of 12.92 percent for this program. (C) The district used the federal unrestricted rate of 15.17 percent for this program. However, the program had additional direct expenditures which lowered the actual indirect cost rate for this program to 14.85 percent.
The district operates a “schoolwide program” in one middle school and three 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 the district in its schoolwide program: Title I (84.010) $969,118.