Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized
following the cost principles contained in the Uniform Guidance , wherein certain types of expenditures are not allowable or are
limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10 percent de minimis cost rate.
The schedule includes federal award activity of the District under programs of the federal government for the year ended
November 30, 2024. The information in this schedule is presented in compliance 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 District, it is
not intended to and does not present the financial position, changes in net assets, or cash flows of the District.