Notes to SEFA
Accounting Policies: II. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESBasis of presentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the District underprograms of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with therequirements of the Office of Management and Budget (OMB) Uniform Grant Guidance. Because the Schedule presents only a selectedportion of the operations of the District, it is not intended to and does not present the financial position and changes in net position of theDistrict. All federal programs considered active during the year ended June 30, 2022, are reflected on the Schedule. An active federal programis defined as a federal program for which there were receipts or disbursements of funds or accrued (deferred) grant revenue adjustmentsduring the fiscal year or a federal program considered as not completed or closed out at the beginning of the fiscal year. The Schedule isprepared using the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the District has met thequalifications for the respective grant.Accrued and deferred reimbursementsVarious reimbursement procedures are used for Federal awards received by the District. Consequently, timing differences betweenexpenditures and program reimbursements can exist at the beginning and end of the year. Accrued balances at year end represent an excessof reimbursable expenditures over receipts to date. Deferred balance at year-end represent an excess of cash receipts over reimbursableexpenditure to date. Generally, accrued or deferred balances covered by differences in the timing of cash receipts and expenditures will bereversed in the remaining grant period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.