Notes to SEFA
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Lago Vista Independent School District and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
SHARS funding $166,124 plus total expenditures from Schedule of Federal Awards $863,624 minus total Federal Revenue per C-2 $(1,029,748) equals $0.
The District has not elected to use the 10% deminimus indirect cost rate.
Of the federal expenditures presented in the SEFA, the District did not provide any federal awards to subrecipients.