Notes to SEFA
Title: Federal Assurances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared to comply with the Uniform Guidance. This circular requires a Schedule of Expenditures of Federal Awards showing total expenditures for each federal financial assistance program as identified on the Assistance Listing and identification of programs that have not been assigned an Assistance Listing Number as Other Federal Assistance. The Schedule includes all expenditures of federal awards administered by the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Puxico R-VIII School District did not have federal insurance in effect during the year, or have federal loans or loan guarantees outstanding at year end which are required to be reported in accordance with the Uniform Guidance.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared to comply with the Uniform Guidance. This circular requires a Schedule of Expenditures of Federal Awards showing total expenditures for each federal financial assistance program as identified on the Assistance Listing and identification of programs that have not been assigned an Assistance Listing Number as Other Federal Assistance. The Schedule includes all expenditures of federal awards administered by the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District did not pass through any federal funds to subrecipients.
Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared to comply with the Uniform Guidance. This circular requires a Schedule of Expenditures of Federal Awards showing total expenditures for each federal financial assistance program as identified on the Assistance Listing and identification of programs that have not been assigned an Assistance Listing Number as Other Federal Assistance. The Schedule includes all expenditures of federal awards administered by the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule is presented in accordance with the Uniform Guidance, which defines federal awards as ?assistance that non-federal entities receive or administer in the form of grants, loans, loan guarantees, property (including donated surplus property), cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations, and other assistance, but does not include amounts received as reimbursement for services rendered to individuals. Accordingly, the Schedule includes nonmonetary as well as monetary assistance.
Title: Basis of Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared to comply with the Uniform Guidance. This circular requires a Schedule of Expenditures of Federal Awards showing total expenditures for each federal financial assistance program as identified on the Assistance Listing and identification of programs that have not been assigned an Assistance Listing Number as Other Federal Assistance. The Schedule includes all expenditures of federal awards administered by the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Except as noted below, the Schedule is presented on the cash basis of accounting, which recognizes amounts only when received or disbursed in cash.Amounts for the Donated Food Distribution Program (Assistance Listing Number 10.555) represent the dollar value assigned to commodities based on prices provided by the State Department of Elementary and Secondary Education. The value of commodities received totaled $8,342 and is included in the total reported for the National School Lunch Program.