Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Matching costs (the Districts share of certain program costs) are not included in the reported expenditures. Pass-through numbers are presented where available. The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program, which are reconciled with the Districts financial reporting system.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No amounts were provided to subrecipients.
Title: OTHER DISCLOSURES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Matching costs (the Districts share of certain program costs) are not included in the reported expenditures. Pass-through numbers are presented where available. The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these federal financial reports are prepared from records maintained for each program, which are reconciled with the Districts financial reporting system.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipment purchased with federal funds has only a nominal value, and is covered by the Districts casualty insurance policies. There were no loans or loan guarantees outstanding at year end. Costs of $6,327 were incurred as of June 30, 2021 in connection with the Education Stabilization Fund (ESF) Grant allocated under the Coronavirus Response and Relief Supplemental Appropriations (CRSSA) Act. As the award was granted in September 2021, these costs are reported as expenditures in the Schedule of Expenditures of Federal Awards at June 30, 2022.