Notes to SEFA
Title: NOTE 1—BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Federal Way School District's financial statements. The Federal Way School District uses the modified 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: Federal Way School District has not elected to use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Federal Way School District's financial statements. The Federal Way School District uses the modified 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.
Title: NOTE 2—FEDERAL INDIRECT RATE
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Federal Way School District's financial statements. The Federal Way School District uses the modified 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: Federal Way School District has not elected to use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance.
Federal Way School District has not elected to use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance. When allowed, Federal Way School District used the federal restricted rate of
3.28% with the following exception:
84.425U Education Stabilization Fund used 3.28, 14.37 and 14.40%
Title: NOTE 3—PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Federal Way School District's financial statements. The Federal Way School District uses the modified 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: Federal Way School District has not elected to use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance.
The amounts shown as current year expenses represent only the federal award portion of the program
costs. Entire program costs, including the Federal Way School 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: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Federal Way School District's financial statements. The Federal Way School District uses the modified 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: Federal Way School District has not elected to use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance.
The amount of food commodities reported on the schedule is the value of commodities distributed by
Federal Way School District during the current year and priced as prescribed by the USDA.
Title: NOTE 5—SCHOOLWIDE PROGRAMS
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Federal Way School District's financial statements. The Federal Way School District uses the modified 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: Federal Way School District has not elected to use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance.
Federal Way School District operates a “schoolwide program” in twenty-two (22) 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 Federal Way School District in its schoolwide program: Title I, Part A (84.010)
($8,121,348.90).