Notes to SEFA
Title: NOTE A BASIS OF PRESENTATION
Accounting Policies: NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE C INDIRECT COST RATEThe ESC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Northwest Ohio Educational Service Center, Fulton County, Ohio (the ESC) under programs of the federal government for the year ended June 30, 2022. The information on this Schedule is prepared in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the esc, it is not intended to and does not present the financial position or changes in net position of the ESC.
Title: NOTE D - TRANSFERS BETWEEN PROGRAM YEARS
Accounting Policies: NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE C INDIRECT COST RATEThe ESC has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal regulations require schools to obligate certain federal awards by June 30. However, with the Ohio Department of Educations consent, schools can transfer unobligated amounts to the subsequent fiscal years program. The ESC transferred the following amounts from 2022 to 2023 programs: [See table in reporting package.]