Notes to SEFA
Accounting Policies: A.Basis of Presentation: Federal Financial Assistance - Pursuant to the Uniform Guidance, federal financialassistance is defined as assistance that nonfederal entities receive or administer in the form of grants,cooperative agreements, loans, loan guarantees, property (including donated surplus property), interestsubsidies, insurance, food commodities, direct appropriations and other assistance, but does not includeamounts received as reimbursements for services rendered to individuals. Accordingly, nonmonetaryfederal assistance may be included in federal financial assistance and therefore, may be reported on theschedule. Wilton Public School District received nonmonetary federal assistance in the form of foodcommodities during the year ended June 30, 2022. Federal financial assistance does not include directfederal cash assistance to individuals.Assistance Listing Number Uniform Guidance requires the schedule to show the total expenditures foreach of the federal financial assistance programs as identified in the Assistance Listing Number (ALN). TheALN is a government wide compendium of individual federal programs.B. Major Programs: The Uniform Guidance established the levels of expenditures to be used in defining majorfederal financial assistance programs. The dollar threshold to distinguish type A and type B programs was$750,000.C. Reporting Entity: The schedule includes all federal financial assistance programs administered by theorganization.D. Basis of Accounting: Federal financial assistance expenditures included in the schedule are reported usingthe accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10 percent de minimis indirect cost rate.