Notes to SEFA
The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Finley School District's financial statements. Finley School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal awards.
The amount of commodities reported on the schedule is the value of commodities distributed by the Finley School District during the current year and priced as prescribed by USDA
The Finley School District used the federal restricted rate of 3.28% and the unrestricted rate of 18.45%. The District has not elected to use the 10-percent de minmis indirect cost rate allowed under the Uniform Guidance.