Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Upper Scioto Valley Local School District (the District) under programs of the federal government for the fiscal year ending June 30, 2025. The information on this Schedule is prepared in accordance with the requirements of Title 2 of the U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule only presents a selected portion of the District's operations, it is not intended to, and does not, reflect the financial position, changes in net position, or cash flows of the District.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized in accordance with the cost principles contained in the Uniform Guidance, wherein certain types of expenditures may be allowable or reimbursable, or may be limited in their reimbursement.
The District has elected not to use the 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The District commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When reporting expenditures on this Schedule, the District assumes it expends federal monies first.
The District reports commodities consumed on the Schedule at their entitlement value. It allocated donated food commodities to the respective program that benefited from their use.