Notes to SEFA
Title: Nonmonetary Transactions
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) arereported on the modified cash basis of accounting. Such expenditures are recognized as theexpenditures are paid.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District receives commodities through the food distribution program, the assistance is valuedat the fair value of the commodities received and disbursed.
Title: Basis of Presentation/Accounting
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) arereported on the modified cash basis of accounting. Such expenditures are recognized as theexpenditures are paid.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activityof the School District and is presented in accordance with the requirements of Title 2 U.S. Codeof Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of the District, it is not intended to and does not present thefinancial position or changes in net position of the District.The School District received federal awards both directly and indirectly through pass-throughentities. The School District has not provided any federal financial assistance to subrecipients.