Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Texarkana Independent School District (the District) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the general purpose financial statements. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant and accordingly when such funds are received, they are recorded as deferred revenues until earned. The District participates in numerous state and federal grant programs governed by various rules and regulations of grantor agencies. Costs charged to the respective grant programs are subject to audit and adjustment by the grantor agencies; therefore, to the extent that the District has not complied with the rules and regulations governing the grants, if any, refunds of any money received may be required and the collectability of any related receivable at June 30, 2025, may be impaired. In the opinion of the District, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grants; therefore, no provision has been recorded in the accompanying basic financial statements for such contingency.
During the year ending June 30, 2025, the District received Medicaid funds of $575,410 which is not considered a federal award since it is direct cash assistance to individuals.
During the year ending June 30, 2025, the District received a discount on phone and internet bills in the amount of $401,079 in the capital projects fund. These amounts are reflected as federal revenue in the current year.
Indirect costs totaling $1,043,350 are in the General Fund. The restricted indirect cost rate for the 2024-2025 fiscal year, as approved by The Division of Federal and Fiscal Compliance and Reporting at the Texas Education Agency (TEA), was 4.771%. All Federal indirect costs are calculated using this restricted indirect rate with the exception of the indirect cost associated with the ESSER III grant, which is calculated using the direct unrestricted rate of 13.378%
Federal Funds Per K-1 $ 17,764,130 Medicaid SHARS 575,410 E-Rate Funding 401,079 $ 18,740,619