Notes to SEFA
Title: FEDERAL AWARD EXPENDITURES PASSED THROUGH TO 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.
De Minimis Rate Used: N
Rate Explanation: Benton Area School District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Benton Area School District did not pass through any federal awards to subrecipients during the year ended June 30, 2022.
Title: BASIS OF PRESENTATION
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.
De Minimis Rate Used: N
Rate Explanation: Benton Area School District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Benton Area School District under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Benton Area School District, it is not intended to and does not present the financial position, changes in fund balances, or cash flows of Benton Area School District.