Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of the La Grange Independent School District under programs of the federal government for the year ended August 31, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Adminsitrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund Types are accounted for in the General Fund and Special Revenue Funds, components of the Governmental Fund types. Such expenditures are recognized following the cost principles contined in the Uniform Guidance, wherin certain types of expenditures are not allowed or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient. Federal grants are considered to be earned to the extent expenditures made under the provisions of the grant. School health and related service revenues are considered earned income at the local government level and thus are not included in the schedule of expenditures of federal awards.
The District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Nonmonetary assistance is reproted in this schedule at the fair market value of the commodities received and disbursed.