Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Ritenour School District 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 the District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the District.
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified cash basis of accounting.
Federal awards are reported in the District's accompanying financial statements as follows:
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports except for changes made to reflect amounts in accordance with generally accepted accounting principles, as applicable to the modified cash basis of accounting.
For those funds that have matching revenues and state funding, federal expenditures were determined by deducting matching revenues from total expenditures.
The commodities received, which are non-cash revenues, are valued using prices provided by the United States Department of Agriculture.
The District provided no federal awards to subrecipients during the year ended June 30, 2025.