Notes to SEFA
Title: NOTE 3—NONCASH AWARDS
Accounting Policies: Note 1: This Schedule is prepared on the same basis of accounting as the Franklin Pierce School 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: Note 2: The District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District used the federal restricted rate of 4.06%
The $409,444 of commodities reported on the schedule for CFDA #10.555 is the market value of commodities received by the District during the current year. The value is determined by the USDA.
Title: NOTE 4—SCHOOLWIDE PROGRAMS
Accounting Policies: Note 1: This Schedule is prepared on the same basis of accounting as the Franklin Pierce School 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: Note 2: The District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District used the federal restricted rate of 4.06%
The District operates a “schoolwide program” in five secondary 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) $2,670,904.