Notes to SEFA
Title: Note 2: Relationship to federal financial reports
Accounting Policies: Reporting Entity - The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the activity of all federal award programs administered by the School Board of the City of Richmond, Virginia (the "School Board"). The School Board's reporting entity is defined in Note 1(b) of the School Board's basic financial statements. Basis of Presentation - The information in the Schedule is presented in accordance with the requirements of Uniform Guidance. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Federal award program titles are reported as presented in the Assistance Listing Number in effect for the year in which the award was granted. Basis of Accounting - The Schedule has been prepared on the modified accrual basis of accounting as defined in Note 1 (e) of the School Board's basic financial statements. Federal award programs include direct expenditures and monies passed through to other governmental entities (i.e., payments to subrecipients). In addition, included within the Department of Agriculture section is non-monetary assistance in the form of donated commodities totaling $476,245. The Department of Defense also contributed commodities of $797,518.
De Minimis Rate Used: N
Rate Explanation: The School Board has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The regulation and guidelines governing the preparation of federal financial reports vary by federal agency and among programs administered by the same agency. Accordingly, the amounts reported in the Federal financial reports do not necessarily agree with the amounts reported in the accompanying Schedule.
Title: Note 4: Subrecipient payments
Accounting Policies: Reporting Entity - The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the activity of all federal award programs administered by the School Board of the City of Richmond, Virginia (the "School Board"). The School Board's reporting entity is defined in Note 1(b) of the School Board's basic financial statements. Basis of Presentation - The information in the Schedule is presented in accordance with the requirements of Uniform Guidance. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Federal award program titles are reported as presented in the Assistance Listing Number in effect for the year in which the award was granted. Basis of Accounting - The Schedule has been prepared on the modified accrual basis of accounting as defined in Note 1 (e) of the School Board's basic financial statements. Federal award programs include direct expenditures and monies passed through to other governmental entities (i.e., payments to subrecipients). In addition, included within the Department of Agriculture section is non-monetary assistance in the form of donated commodities totaling $476,245. The Department of Defense also contributed commodities of $797,518.
De Minimis Rate Used: N
Rate Explanation: The School Board has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Of the federal expenditures presented in the Schedule, the School Board provided federal awards to subrecipients as follows: See notes to SEFA for the table/chart.