Notes to SEFA
The above schedule of expenditures of federal awards includes the federal grant activity of the St. Mary Parish School Board under programs of the federal government for the year ended June 30, 2025. The information in this schedule is presented in accordance with the requirements of OMB 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 St. Mary Parish School Board, it is not intended to and does not present the financial position or changes in net assets of the Entity.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
Non-cash assistance is reported in the schedule at the fair market value of the USDA commodities received and disbursed.
The School Board has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance. Indirect costs, if applicable, are allocated in accordance with the entity’s cost allocation plan or as specified by the terms of the federal award.