Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Alma Public Schools under programs of the federal government for the year ended June 30, 2025. 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 Alma Public Schools, it is not intended to and does not present the financial position, changes in net position, or cash flows of Alma Public Schools.
Expenditures Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Indirect Cost Rate Alma Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Adjustment An adjustment of $48 was made to the Title I grant expenditures reported in the current year Schedule of Expenditures of Federal Awards. This adjustment corrects an overstatement of accrued (unearned) revenue recorded in the prior year SEFA. The prior year’s accrued revenue was overstated by $48, resulting in a corresponding reduction to current year expenditures to properly reflect federal grant activity.
See the Notes to the SEFA for chart/table
No amounts were provided to subrecipients.
The federal amounts reported on the grant auditor report are in agreement with the schedule of expenditures of federal awards. The amounts reported on the recipient entitlement balance report agree with the schedule of expenditures of federal awards for U.S.D.A donated food commodities.