Notes to SEFA
Basis of presentation – The schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U. S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Federal expenditures include allowable costs funded by federal grants. Allowable costs are subject to the cost principles of the Uniform Guidance and include both costs that are capitalized and costs that are recognized as expenses in the District’s financial statements in conformity with generally accepted accounting principles. The District does not have any subrecipients, does not have an approved indirect cost rate, and has elected not to use the 10% de minimis rate for indirect costs. Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes