Notes to SEFA
Theaccompanyingscheduleofexpendituresoffederalawards(the"Schedule")includesthefederalawardactivityoftheCherokeeCountyBoardofEducation(the"Board")underprogramsofthefederalgovernmentfortheyearendedJune30,2025.TheinformationinthisScheduleispresentedinaccordancewiththerequirementsofTitle2U.S.CodeofFederalRegulationsPart200,UniformAdministrativeRequirements,CostPrinciples,andAuditRequirementsforFederalAwards(UniformGuidance).BecausetheSchedulepresentsonlyaselectedportionoftheoperationsoftheBoard,itisnotintendedtoanddoesnotpresentthefinancialpositionorchangesinnetpositionoftheBoard.
ExpendituresreportedontheSchedulearereportedonthemodifiedaccrualbasisofaccounting.SuchexpendituresarerecognizedfollowingthecostprinciplescontainedintheUniformGuidance,whereincertaintypesofexpendituresarenotallowableorarelimitedastoreimbursement.
The Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. TotalfederalrevenuespresentedintheStatementofRevenues,Expenditures,andChangesinFundBalance-GovernmentalFundsdifferfromthetotalfederalexpenditurespresentedinthisscheduleduetofederalpaymentsreceivedthatwerenotassociatedwithaspecificfederalprogram. Those differences totaled $260,185. 1 Includes the federally assigned value of donated commodities for the Food Donation Program in the amount of $1,915,438.