Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of federal award programs administered by the District, which is described in Note 1 to the District’s accompanying financial statements, using the modified cash basis of accounting. Therefore, some amounts presented in this Schedule may differ from amounts presented in or used in the preparation of the District’s financial statements. Federal awards that are included in the Schedule may be received directly from Federal agencies, as well as Federal awards that are passed through from other government agencies. The information presented in the Schedule is presented 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 District, it is not intended to and does not present the financial position and changes in net position of the District.
Expenditures on the Schedule are reported on the modified 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 limited as to reimbursement. Matching costs (the District’s share of certain program costs) are not included in the reported expenditures. Pass-through entities’ identifying numbers are presented where applicable.The amounts reported as Federal expenditures were obtained from the Federal financial reports for the applicable program and period. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the District’s financial reporting system.
The District is an independent municipal corporation. All Federal grant operations of the District are included in the scope of the single audit.
Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities used, which are amounted provided by New York under the National School Lunch Program. For the year ended June 30, 2025, the District used food commodities totaling $22,080.
The District did not elect to use the 10% de minimus cost rate. Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source for the data presented. The District’s policy is not to charge Federal award programs with indirect costs.
No insurance is carried specifically to cover equipment purchased with Federal funds. Equipment purchased with Federal funds is covered by the District’s casualty insurance policy. There were no loans or loan guarantees outstanding at year-end.