Notes to SEFA
The accompanying schedule of federal awards (schedule) includes the federal grant activity of Independent School District No. 435 and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
Cash receipts from the U.S. Department of Agriculture through the Minnesota Department of Education are included in revenues from federal sources. It is assumed that federal funds are expended first.
Program regulations do not require the District to maintain separate inventory records for purchased food and food received from the U.S. Department of Agriculture. This non-monetary assistance (expenditures) is reported in the schedule at the fair market value of the commodities received.
All pass-through entities listed on the schedule use the same Assistance Listing numbers as the federal grantors to identify these grants, and have not assigned any additional identifying numbers.
Independent School District No. 435 did not pass any federal money to subrecipients.