Notes to SEFA
Title: NOTE 3 - FEDERAL UNRESTRICTED INDIRECT RATE
Accounting Policies: This Schedule is prepared on the same basis of accounting as the South Whidbey School Districtsfinancial statements. The district uses the modified accrual basis of accounting. Expenditures representonly the federally funded portions of the program. District records should be consulted to determineamounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The South Whidbey School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The South Whidbey School District used the federal restricted rate of 4.21%.The South Whidbey School District used the federal indirect rate of 8.70% for these grants:CFDA 93.243 93.788 93.959The South Whidbey School District used the federal indirect rate of 12.60% for this grant:CFDA 84.425D
The South Whidbey School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The South Whidbey School District used the federal unrestricted rate of 20.17% for these grants:CFDA 84.425D 84.425U
Title: NOTE 4 - PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the South Whidbey School Districtsfinancial statements. The district uses the modified accrual basis of accounting. Expenditures representonly the federally funded portions of the program. District records should be consulted to determineamounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The South Whidbey School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The South Whidbey School District used the federal restricted rate of 4.21%.The South Whidbey School District used the federal indirect rate of 8.70% for these grants:CFDA 93.243 93.788 93.959The South Whidbey School District used the federal indirect rate of 12.60% for this grant:CFDA 84.425D
The amounts shown as current year expenses represent only the federal award portion of the program costs. Entire program costs, including the South Whidbey School Districts local matching share, may be more than shown. Such expenditures are recognized following, the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 5 - NONCASH AWARDS
Accounting Policies: This Schedule is prepared on the same basis of accounting as the South Whidbey School Districtsfinancial statements. The district uses the modified accrual basis of accounting. Expenditures representonly the federally funded portions of the program. District records should be consulted to determineamounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The South Whidbey School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The South Whidbey School District used the federal restricted rate of 4.21%.The South Whidbey School District used the federal indirect rate of 8.70% for these grants:CFDA 93.243 93.788 93.959The South Whidbey School District used the federal indirect rate of 12.60% for this grant:CFDA 84.425D
The amount of commodities reported on the schedule is the value of commodities distributed by the South Whidbey School District during the current year and priced as prescribed by USDA.