Notes to SEFA
NOTE 3 - RELATIONSHIP TO THE BASIC FINANCIAL STATEMENTS Federal awards expended are reported in the School Board's basic financial statements as follows: Federal Sources Major Funds: Federal Sources General fund $ 108 School Food Service 1,610,946 Education Stabilization 709,917 Nonmajor Funds: ESEA Programs 1,179,629 Special Education 695,015 Career and Technical Grants 156,279 JHS Girls' Gym Hurricane Laura 72,887 Total $ 4,424,781
NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports except for changes made to reflect amounts in accordance with accounting principles generally accepted in the United States of America.
NOTE 5 - MATCHING REVENUES For those funds that have matching revenues and state funding, federal expenditures were determined by deducting matching revenues from total expenditures.
NOTE 6 - NONCASH PROGRAMS The commodities received, which are noncash revenues, are valued using prices provided by the United States Department of Agriculture.
NOTE 7 – DISASTER GRANTS – PUBLIC ASSISTANCE, AL# 97.036 Non-Federal entities must record expenditures on the SEFA when: (1) Federal Emergency Management Agency (FEMA) has approved the non federal entity’s project worksheet (PW), and (2) the non-federal entity has incurred the eligible expenditures. In 2025, FEMA approved $72,995 of eligible expenditures that were incurred in a prior year and are included on the schedule.
NOTE 8 - INDIRECT COST RATE The School Board has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.