Notes to SEFA
The accompanying schedule of expenditures of Federal and State Awards (SEFSA) includes the Federal and State grant activity of the McDowell County Board of Education under the programs of the federal government and the state of North Carolina for the year ended June 30, 2025. The information in this SEFSA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operation of McDowell County Schools, it is not intended to and does not present the financial position, changes in net position or cash flows of McDowell County Schools.
Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited. McDowell County Schools has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following are clustered by the NC Department of Public Instruction and are treated separately for state audit purposes: School Nutrition Program.