Notes to SEFA
In the accompanying schedule of expenditures of federal awards is presented in accordance with the requirements of 2 CFR Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), using the modified accrual basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts presented in the financial statements.
The District receives food commodities from the U.S. Department of Agriculture for use in its food service program and are valued based on the USDA’s Donated Commodity Price List. Commodities are recorded under Assistance Listing #10.555 on the Schedule of Expenditures of Federal Awards. The commodities, in the amount of $757,650, are recognized as revenue when received. The commodities are recognized as expenditures when used by the schools.
The District has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.
The District provided no federal awards to subrecipients.