Notes to SEFA
This schedule is prepared on the same basis of accounting as the District’s financial statements. The District uses the accrual basis of accounting. The purpose of this schedule is to present a summary of those activities of the District for the year ended December 31, 2022, which have been financed by federal awards. Because the schedule presents only federal awards activity of the District, it is not intended to, and does not present the financial position, changes in net assets, or cash flows of the District.
The amounts shown as current year expenditures represent only the federal grant and loan portion of the program costs. Entire program costs, including the District’s portion, are more than shown on the schedule. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The District uses the rates established directly with the respective federal agency.
No amounts of the federal awards were passed through to subrecipients.