Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal activity ofthe Winona Independent School District and is presented on the modified accrual basis of accounting.Expenditures are recognized in the accounting period in which a fund liability occurs. Funds are consideredearned to the extent of expenditures made.The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portionof the operations of the District, it is not intended to and does not present the financial position or changes innet position of the District. Therefore, some amounts presented in this schedule may differ from amountspresented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the UniformGuidance.