Notes to SEFA
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus.The governmental fund types are accounted for using a current financial resources measurement focus. Allfederal expenditures were accounted for in the General Fund and Special Revenue Funds which aregovernmental fund types. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.No federal financial assistance has been provided to a subrecipient.Federal grants are considered to be earned to the extent of expenditures made under the provisions of thegrant.
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.