Notes to SEFA
The Schedule of Expenditures of Federal Awards (the “Schedule”) presents the activity of all applicable federal award programs of Los Fresnos Consolidated Independent School District (“the District”). The District’s reporting entity is defined in Note I of the basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule.
The Schedule is presented using the modified accrual basis of accounting. The District’s significant account policies, including the modified accrual basis of accounting, are presented in Note I of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
None of the federal programs expended by the District were provided to subrecipients.
The District did not elect to apply the 10% de minimis indirect cost rate.
Federal revenues per the Statement of Revenues, Expenditures and Changes in Fund Balance- Government Funds (Exhibit C-3) $ 17,149,598 Less: SHARS 7 43,692 Other federal 83,432 Federal expenditures $ 16,322,474