Notes to SEFA
Title: basis of presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards is a summary of the activity of Tully CentralSchool District's federal award programs and presents transactions that are included in the financialstatements of the District presented on the modified accrual basis of accounting, as required by accountingprinciples generally accepted in the United States of America. Such expenditures are recognized following thecost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement.
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 presents the activity of federal award programsadministered by the Tully Central School District, which is described in Note 1 to the Districts accompanyingfinancial statements, using the modified accrual basis of accounting. Federal awards that are included in theschedule may be received directly from federal agencies, as well as federal awards that are passed throughfrom other government agencies. The information in this schedule is presented in accordance with therequirements 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). Therefore, some amountspresented in this schedule may differ from amounts presented in, or used in the preparation of, the financialstatements. CFDA numbers and passthrough numbers are provided, when available.
Title: food distribution
Accounting Policies: The accompanying schedule of expenditures of federal awards is a summary of the activity of Tully CentralSchool District's federal award programs and presents transactions that are included in the financialstatements of the District presented on the modified accrual basis of accounting, as required by accountingprinciples generally accepted in the United States of America. Such expenditures are recognized following thecost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District is the recipient of a federal award program that does not result in cash receipts or disbursements.The District was granted approximately $29,100 of commodities under the National School Lunch Program(CFDA 10.555).