Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) is a summary activity of all federal award programs of the Tecumseh Local School District (the School District). The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the School District, it is not intended to and does not present the financial position, changes in net position or cash flows of the School District.
Non-monetary assistance, such as food received from the U.S. Department of Agriculture, is reported on the Schedule at the market value of the commodities received and consumed. Cash receipts from the U.S. Department of Agriculture are commingled with State grants. It is assumed federal monies are expended first.