Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of HuntingtonIndependent School District and is presented on the modified accrual basis of accounting. The information in this schedule ispresented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with theaudit 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). Therefore, some amounts presented in this schedule maydiffer from amounts presented in the general purpose financial statements.Relationship to Basic Financial StatementsFederal programs are reported in the District's fund financial statements.Other NotesThe period of availability of federal grant funds for the purpose of liquidation of outstanding obligations made on or before theending date of the project period may extend 30 days beyond the project period ending date, in accordance with provisions inSection H, Period of Availability of Federal Funds, Part 3, Uniform Guidance.The District has no indirect cost in the federal programs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.