Notes to SEFA
The accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) includes the federal and state grant activity of the Board and is presented on the modified accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards.
The Board has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Of the federal expenditures presented in the Schedule, the Board has not provided any federal awards to subrecipients.