Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: Littlestown Area School District (the District) as the reporting entity for financial reporting purposes is defined in the footnotes to the Districts basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the Districts reporting entity is the same that was used for financial reporting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards included the grant activity of the School District and is presented using the modified accrual basis of accounting, which is described in the Summary of Significant Accounting Policies Note to the Districts basic financial statements.