Notes to SEFA
For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability System Resource Guide. • General Fund - is used to account for among other things, revenues from School Health and Related Services (SHARS) and indirect cost reimbursements. • Special Revenue Funds - are used to account for resources restricted to or designated for specific purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund. Generally, unused balances are returned to the grantor at the close of specified project periods.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus. All Federal grant funds were accounted for in a Special Revenue Fund or, in some instances, in the General Fund which are Governmental Fund type funds. With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in net current assets. The modified accrual basis of accounting is used in the Governmental Fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as unearned revenues until earned.
The period of performance for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 90 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Performance of Federal Funds, 3 CFR Section 200.343 (b).
ALN numbers for commodity assistance are the ALN numbers of the programs under which USDA donated the commodities.
The District also received $ I 26,673 of School Health and Related Services (SHARS) payments and $85,552 of security services recorded in the General Fund and $158,440 of IRS reimbursements recorded in the Debt Service Fund. These payments are not considered Federal awards for purposes of The Schedule of Expenditures of Federal Awards but are included in federal revenue on Exhibit C-3.