Notes to SEFA
Accounting Policies: Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the schedule)includes the Federal award activity of the Fremont Unified School District (the District) under programs ofthe federal government for the year ended June 30, 2022. The information is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedulepresents only a selected portion of the operations of the District, it is not intended to and does not presentthe financial position, changes in net position/fund balance of the District.Summary of Significant Accounting Policies Expenditures reported in the schedule are reported onthe modified accrual basis of accounting, except for subrecipient expenditures, which are recorded on thecash basis. When applicable, such expenditures are recognized following the cost principles contained inthe Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.