Audit 39930

Title: RECONCILIATION OF FEDERAL REVENUES AND THE SEFA Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all applicable federal award programs of Liberty Hill Independent School District (the District). The District's reporting entity is defined in Note I of the financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the SEFA. The SEFA is presented using the modified accrual basis of accounting. The Districts significant accounting policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The SEFA 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. None of the amounts reported on the SEFA were passed through to subrecipients. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The following is the reconciliation of federal revenues and the SEFA for the fiscal year: Federal program revenues per Exhibit C-3 $7,627,396. E-Rate reimbursement ($36,899). ESSER II Funds approved but already recognized $227,993. School Health & Related Services (SHARS) reimbursement not reported in the SEFA ($491,914). Total federal expenditures on Exhibit K-1 $7,326,576.