Notes to SEFA
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipment purchased with federal funds has only a nominal value, and is covered by the District’s casualty insurance policies. There were no loans or loan guarantees outstanding at year end.
The accompanying schedule reflects only those expenditures that are subject to the requirements of the Uniform Guidance, and thus excludes certain items reported in the District’s financial statements. For the fiscal year ended June 30, 2025, the District reported $144,711 in surplus food commodities received from the federal government as federal sources revenue in its governmental funds financial statements. However, in accordance with the Uniform Guidance, the value of surplus food commodities used during the fiscal year is required to be reported as federal awards expended. Therefore, an adjustment of $5,980 was reflected, resulting in a total of $138,731 reported as non-cash assistance (food distribution) for surplus food commodities used in the National School Lunch Program, ALN: 10.555. For the fiscal year ended June 30, 2025, the District received $60,676 in E-Rate funding, which is reported as federal sources revenue in the governmental funds financial statements. However, E-Rate program reimbursements are not classified as federal awards expended in accordance with the Uniform Guidance. Additionally, for the fiscal year ended June 30, 2025, aggregate differences of $26,551 existed between federal sources revenue reported in the governmental fund financial statements and the Schedule, resulting from adjustments made during the grant closeout process to Special Education Grants to States: IDEA Part B ($20,879), COVID-19: Child Nutrition Discretionary Grants Limited Availability ($5,668), and other grants ($4). The following is a reconciliation of the federal revenues reported in the financial statements to federal awards expended, as reported in the Schedule: