Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Juab School District (the District) under programs of the federal government for the year ended June 30, 2025. The information in the 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 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 financial position, or cash flows of the District.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting as described in Note 1 to the District’s basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Donated food commodities are recorded at acquisition value in the school food services fund as an inventory asset and federal revenue when received totaling $92,284 for the year ended June 30, 2025. Donated food commodity inventories are recorded as expenditures in the school food services fund when they are consumed by the schools; for purposes of the Schedule, donated food commodities are also recorded as expenditures when received. The District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Federal awards expended on the Schedule for the year ended June 30, 2025 are reconciled to the amounts reported in the District’s financial statements as federal government revenues as detailed in the table.
The District did not provide federal award funding to any subrecipients during the year ended June 30, 2025.