Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards presents the activity of all federal award programs of Beaver CountySchool District (District). The District reporting entity is defined in Note 1 to the District's financial statements. Allfederal awards received directly from federal agencies as well as federal awards passed through from othergovernment agencies are included on the schedule. Of the federal expenditures presented in the schedule, the Districtprovided no federal awards to sub-recipients. The accompanying schedule of expenditures of federal awards is presented using the modified-accrual basis ofaccounting for assistance received by governmental fund types, which is described in Note 1 to the District's financialstatements.Entitlements and shared revenues are recorded at the time of receipt or earlier if the "susceptible to accrual" criteriaare met. Expenditure-driven grants are recognized as revenue when qualifying expenditures have been incurred and allother gran requirements have been met. Donated food commodities are recorded at fair value at the date ofcontribution to the District and totaled $70,513 for the year ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.