Notes to SEFA
Accounting Policies: Summary of Significant Accounting Policies - Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Expenditures are recognized following the cost principles contained in OMB CircularA-87, Cost Principles for States, Local and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.21st Century (ALN 84.287) and Headstart (ALN 93.600) were audited as the major program and represents 41% of expenditures. The District qualified for low risk auditee status.Noncash Assistance - The value of noncash assistance received was determined in accordance with the provisionsof the Uniform Guidance. The grantee received no noncash assistance during the year ended June 30, 2022 thatis not included on the schedule of expenditures of federal awards.The threshold for distinguishing Type A and Type B programs was $1,263,440.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.