Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Redfield School District No. 56‐4 under programs of the federal government for the year ended. The information in this 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 Redfield School District No. 56‐4, it is not intended to and does not present the financial position, changes in net position, or cash flows of Redfield School District No. 56‐4.
Expenditures reported 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 are limited as to reimbursement.
Redfield School District does not use the 10‐percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal reimbursements are not based upon specific expenditures. Therefore, the amounts reported here represent cash received rather than federal expenditures.