Notes to SEFA
Title: Non-Cash Awards
Accounting Policies: Expenditures reported on th schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type pf expenditures are not allowance or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
the District received non-cash food commodities during the current year in the amount of $84,186
Title: Sub-Recipients
Accounting Policies: Expenditures reported on th schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type pf expenditures are not allowance or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no federal awards passed through to subrecipients during the year.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on th schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type pf expenditures are not allowance or are limited as to reimbursement.
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 grant activity of Saucon Valley School District under programs of the federal government for the year ended June 30, 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schule presents only a selected portion of operation of Saucon Valley School District, it is not intended to and does not present the net position, changes in net position or cash flows of Saucon Valley School District.