Notes to SEFA
Basis of presentation – The schedule of expenditures of federal awards (the schedule) is prepared on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U. S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Federal expenditures include allowable costs funded by federal awards. Allowable costs are subject to the cost principles of the Uniform Guidance and include both costs that are capitalized and costs that are recognized as expenses in the School’s financial statements in conformity with generally accepted accounting principles. The School uses its approved Texas Education Agency indirect cost rate for indirect costs. The School does not have any subrecipients. Because the schedule presents only a selected portion of the operations of the School, it is not intended to and does not present the financial position, changes in
Food commodities are recognized as federal expenditures when distributed. Distributed food is reported in the schedule of expenditures of federal awards under the National School Lunch Program and is valued based on amounts reported to the School by the Texas Department of Agriculture in the statements of commodities shipped at the time the items are received. These amounts are considered to be non-cash assistance to the School. The School received $1,995,651 of commodities during the year ended June 30, 2025, which is reported as non-cash assistance in the schedule of expenditures of federal awards.
Included in the COVID-19 – Education Stabilization Fund ESSER Grant III, Contract #21528001108807 is $5,581,449 of prior years indirect costs. The U. S. Department of Education approved the reporting of these costs and the recognition of the related revenue in fiscal year 2025.