Notes to SEFA
Expenditures reported on the Schedule 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 as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
The Schedule of Expenditures of Federal Awards includes certain federal awards received as nonmonetary assistance. During the year ended June 30, 2025, the District received food commodities under the National School Lunch Program (Assistance Listing Number 10.555) from the U.S. Department of Agriculture. These commodities are reported on the Schedule of Expenditures of Federal Awards at fair value at the date of receipt, as determined by the U.S. Department of Agriculture.