Notes to SEFA
Accounting Policies: Note A: Basis of Presentation - The Schedule of Expenditures of Federal Awards includes the federal grant activity of theHaskell School District and is presented on another comprehensive basis of accounting conforming with theaccounting practices prescribed or permitted by the Oklahoma State Department of Education which is acomprehensive basis of accounting other than generally accepted accounting principles. Under this method,expenditures are recognized when an approved purchase order is issued.Note B: Commodities representing non-cash expenditures have been included in the Schedule of Expenditures of FederalAwards which is an exception to the prescribed basis of accounting.Note C: There were no amounts passed to subrecipients and this District does not use the 10% de minimis cost rate.Note D: Grantor provides adequate insurance coverage against loss on assets purchased with Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.