Notes to SEFA
Title: Note 1 General
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The modified accrual basis of accounting is described in Note 1 of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The District has not elected to apply the 10% de minimis indirect cost rate to the federal expenditures included in the Schedule of Expenditures of Federal Awards.
The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Kemp Independent School District. The District's reporting entity is defined in Note I of the financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
Title: Note 3 Pass Through Expenditures
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The modified accrual basis of accounting is described in Note 1 of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The District has not elected to apply the 10% de minimis indirect cost rate to the federal expenditures included in the Schedule of Expenditures of Federal Awards.
$165,776 of the federal programs expended by the District were provided to subrecipients.
Title: Note 4 Reconciliation to Basic Financial Statements
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The modified accrual basis of accounting is described in Note 1 of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The District has not elected to apply the 10% de minimis indirect cost rate to the federal expenditures included in the Schedule of Expenditures of Federal Awards.
see the notes to the sefa for table.