Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the School District of Oconee County and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB’s Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts are presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Restricted or unrestricted rates calculated and applied.