Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Wasatch County School District (the District) under programs of the federal government for the year ended June 30, 2025. The information 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 Wasatch County School District, it is not intended to and does not present the financial position, changes in net position, or changes in fund balance of Wasatch County School District.
Expenditures reported in the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient.
The District has not elected to use the de minimis cost rate.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. At June 30, 2025, the District had food commodities totaling $26,567 in inventory.
The District received Medical Assistance Program grant monies through the State of Utah Department of Health. These federal grants are not classified as federal financial assistance under Uniform Guidance because they are classified as Medicaid funding. The total billed for this program for the year ended June 30, 2025, was $584,617.