Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Webster County School District under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 Webster County School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Webster County School District.
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Entire program costs, including the district’s portion, are more than shown. Such expenditures are recognized following the cost principals contained in the Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed or are limited as to its reimbursements.
The amount of donated commodities reported on the schedule is the value of donated commodities received by the district and reported under the National School Lunch Program for children ALN # 10.555. The value of the commodities received during the fiscal year was $89,906.
The district has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.