Notes to SEFA
Title: Note 3. Donated Personal Protective Equipment (PPE) (Unaudited)
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of the Concord School District (the District) under programs of thefederal government for the year ended June 30, 2022. The information in the Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirementsfor Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the District, it is not intended to and does not present thefinancial position, changes in net position, or cash flows of the District.Expenditures reported on the Schedule are reported on the modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited toreimbursement.The amounts reported for the National School Lunch Program NonCash Assistancerepresent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10percent de minimis indirect cost rate as allowed under the UniformGuidance. Per EDGAR 34 CFR secs. 75.561 and 76.561, the District receives its indirect cost ratefrom the State Education Agency and is ineligible for the de minimus rate.
During fiscal year 2022, the District received donated PPE from federal sources with an estimated fair market value of $7,674.
Title: Note 4. Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of the Concord School District (the District) under programs of thefederal government for the year ended June 30, 2022. The information in the Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirementsfor Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the District, it is not intended to and does not present thefinancial position, changes in net position, or cash flows of the District.Expenditures reported on the Schedule are reported on the modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited toreimbursement.The amounts reported for the National School Lunch Program NonCash Assistancerepresent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10percent de minimis indirect cost rate as allowed under the UniformGuidance. Per EDGAR 34 CFR secs. 75.561 and 76.561, the District receives its indirect cost ratefrom the State Education Agency and is ineligible for the de minimus rate.
Of the federal expenditures presented in the Schedule, the District did not provide federal awards to subrecipients.