Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.Negative amounts shown on the Schedule represent adjustments or credits made in the normal course ofbusiness to amounts reported as expenditures in prior years.Pass-through entity identifying numbers are presented where available. ROTC does not have a ALN number,so the Federal ALN number on the Schedule of Expenditures of Federal Awards identifies the Departmentfollowed by Unknown.
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 (the "Schedule") includes the federal awardactivity of Pueblo School District No. 60 under programs of the federal government for the year ended June30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of Pueblo School District No. 60, it is not intended to and does not present thefinancial position, changes in net position, or cash flows of Pueblo School District No. 60.
Title: NON-CASH ASSISTANCE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.Negative amounts shown on the Schedule represent adjustments or credits made in the normal course ofbusiness to amounts reported as expenditures in prior years.Pass-through entity identifying numbers are presented where available. ROTC does not have a ALN number,so the Federal ALN number on the Schedule of Expenditures of Federal Awards identifies the Departmentfollowed by Unknown.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year end June 30, 2022, Pueblo School District No. 60 received $702,039 in non-cash assistancein the form of food commodities. Valuation of commodities is based on fair market value at the time ofreceipt.