Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Klawock City 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 Klawock City School District, it is not intended to and does not present the basic financial statements of Klawock City School District.
Impact Aid revenue is recognized when received; however, expenditures are applied to the prior year and a reserve is established annually for Impact Aid received under the current application. Federal expenditures per the Schedule $2,607,312 Statutory Impact Aid reserved in FY24 (1,015,942) Statutory Impact Aid received and reserved in FY25 1,049,863 Total federal revenues per Basic Financial Statements $2,641,233
Non-monetary assistance is reported in the Schedule at fair market value of the commodities received and disbursed. At June 30, 2025, the District had food commodities totaling $19,311.