Notes to SEFA
The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Huntingdon Area School District has elected to not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
An extensive compliance test, as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) was performed on the Education Stabilization Fund and Child Nutrition Cluster programs which represent 58.43% of the total expenditures reflected on the Schedule of Expenditures of Federal Awards. The Education Stabilization Fund and Child Nutrition Cluster programs exceed $1,339,284 and therefore, represent the only programs to which the specific compliance requirements must be applied.
USDA Donated Commodities are valued at market value, which represents the costs to replace those items.