Notes to SEFA
Note A: Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal grant activity of Edmond lndependeut Scbool Disllict No. 12, Oklahoma County, Oklahoma under programs of the federal govermnent for the year ended June 30, 2025. The infonnation ins this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Award (Uniform Guidance). Because the schedule presents only a selected portion of U,e operations of Edmond Independent School District No. 12 Oklahoma Cowity, Oklahoma, it is not intended to and does not present the basic financial statements as listed in the table of contents. Note B: Summary of Significant Accounting Policies Expenditures reported on the schedule of expenditures of federal awards are reported using the same regulatory basis of accounting as used in the financial statements. The regulatory basis, which is fully desciibed in the notes to the financial statements, includes encumbrances at year end as expenditures. Expenditures are recoguized following the cost principles containd in the Uniform Guidance, where certain types of expendiutres are not allowaable or are limited as to reimbursement. Norunonetaty assistance is reported in the schedule at the fair market value of commodities received. Note C: Indirect Cost Rate Edmond Independent School Disllict No. 12 Oklahoma County, Oklahoma bas elected not to use the 10% de mininris indirect cost rate allowed under the UnifORm Guidance. Note D: Subrecipients Edmond Independent School Disllict No. 12 Oklahoma County, Oklahoma did not have any awards that have been passed through to subrecipients.