Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the Santa CruzElementary School District No. 28's (the District) federal grant activity under federal programs for theyear ended June 30, 2022. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement. Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in the preparation of,the financial statements. Because the Schedule presents only a selected portion of the operations of theSchool, it is not intended to and does not present the financial position or changes in fund balance or netposition of the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.