Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal awardactivity of the Mammoth Unified School District (the District) under programs of the federal government for theyear ended June 30, 2022. The information is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion ofthe operations of the District, it is not intended to and does not present the net position or changes in netposition and fund balance of the District.Summary of Significant Accounting PoliciesExpenditures reported in the schedule are reported on the modified accrual basis of accounting. Whenapplicable, 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. No federal financialassistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.