Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Board of Education, Town of Greeneville, Tennessee, under programs of the federal government for the year ended June 30, 2025. 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). Because the Schedule presents only a selected portion of the operations of the Board of Education, it is not intended to and does not present the financial position, change in net position, or cash flows of the Board of Education.
Expenditures reported on the schedule of federal awards and the schedule of state awards are reported on the 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. The Board has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the schedule at fair market value of the commodities received and disbursed.
The Board of Education provided federal and state awards to subrecipients as follows:
The following amounts were consolidated for administration purposes: