Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) presents the activity of all federal award programs administered by Camden Central School District, an entity as defined in Note 1 to the Districts financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the SEFA. The information in the SEFA is presented in accordance with Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule of Expenditures of Federal Awards is presented in accordance with generally accepted accounting principles in the United States and the amounts presented are derived from the Districts general ledger. Federal expenditures are recorded when an allowable cost is incurred under the applicable program and is due and payable.
Title: INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) presents the activity of all federal award programs administered by Camden Central School District, an entity as defined in Note 1 to the Districts financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the SEFA. The information in the SEFA is presented in accordance with Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Indirect costs are not included in the reported expenditures as they are not included in the federal funding for each program. The District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: MATCHING COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) presents the activity of all federal award programs administered by Camden Central School District, an entity as defined in Note 1 to the Districts financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the SEFA. The information in the SEFA is presented in accordance with Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching costs, i.e., the Districts or States share of certain program costs, are not included in the reported expenditures.
Title: NON-MONETARY FEDERAL PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) presents the activity of all federal award programs administered by Camden Central School District, an entity as defined in Note 1 to the Districts financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the SEFA. The information in the SEFA is presented in accordance with Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District is the recipient of a federal financial award program that does not result in cash receipts or disbursements termed a "non-monetary" program. During the year ended June 30, 2022, the District received food commodities, the fair value of which amounted to $45,045, and is presented in the SEFA as National School Lunch Program (Division of Donated Foods, AL#10.555).