Notes to SEFA
Accounting Policies: Summary of Significant Accounting Policies Basis of Accounting
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Relationship to Federal Financial Reports
Amounts reported in the Schedule agree with the amounts reported in the related federal financial reports in all significant respects.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.