Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of federal award programs administered by the District, which is described in note 1 to the District’s accompanying financial statements, using the modified accrual basis of accounting. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the District’s financial statements. Federal awards that are included in the Schedule may be received directly from federal agencies, as well as passed through from other entities and government agencies. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 District, it is not intended to and does not present the financial position and changes in net position of the District.
Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities used, which are amounts provided by New York State under the National School Lunch Program. For the year ended June 30, 2025, the District used food commodities totaling $79,592. At June 30, 2025, the District had food commodities totaling $35,353 in inventory.
The District did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source for the data presented. Certain of the District's federal award programs have been charged with indirect costs, based upon a rate established by New York State.
No insurance is carried specifically to cover equipment purchased with federal funds. Equipment purchased with federal funds is covered by the District’s casualty insurance policies. There were no loans or loan guarantees outstanding at year end.