Notes to SEFA
Title: SCOPE OF THIS SCHEDULE
Accounting Policies: The District uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities in Note C. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The Oxford Area School District has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards reflects federal expenditures for all individual grants which were active during the fiscal year.
Title: BASIS OF ACCOUNTING
Accounting Policies: The District uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities in Note C. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The Oxford Area School District has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The District uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities in Note C. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
Title: NONMONETARY FEDERAL AWARDS - DONATED FOOD
Accounting Policies: The District uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities in Note C. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The Oxford Area School District has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Commonwealth of Pennsylvania distributes federal surplus food to institutions (schools, hospitals, and prisons) and to the needy. Expenditures reported in the schedule of expenditures of federal awards under ALN 10.555, include surplus food consumed by the District during the 2023 - 2024 fiscal year.
Title: ACCESS PROGRAM
Accounting Policies: The District uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities in Note C. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The Oxford Area School District has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The ACCESS Program is a medical assistance program that reimburses local educational agencies for direct eligible health-related services provided to enrolled special needs students. Reimbursements are federal source revenues but are classified as fee-for-service and are not considered federal financial assistance. The amount of ACCESS funding recognized for the year ended June 30, 2024 was $140,670.
Title: INDIRECT COST RATE
Accounting Policies: The District uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities in Note C. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The Oxford Area School District has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Oxford Area School District has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: PRIOR YEAR SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Accounting Policies: The District uses the modified accrual method of recording transactions except as noted for the accounting of donated commodities in Note C. Revenues are recorded when measurable and available. Expenditures are recorded when incurred.
De Minimis Rate Used: N
Rate Explanation: The Oxford Area School District has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
As a result of the information obtained during the year, the District has concluded that the schedule of expenditures of federal awards was misstated in the previous year. The District had $112,488 in federal award expenditures related to ALN 84.425D that was received from the Pennsylvania Commission on Crime and Delinquency.