Notes to SEFA
Title: Noncash Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles forState, Local and Indian Tribal Governments, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The U.S. Department of Education (USED) has delegated to the State ofVermont Agency of Education the authority to issue indirect cost rates to all LocalEducation Agencies (LEAs) based on a plan approved by the USED. Therefore,the Rutland Northeast Supervisory Union does not use the 10% de minimusindirect cost rate as allowed under the Uniform Guidance.
The Rutland Northeast Supervisory Union reports U.S. Department of Agriculture(USDA) Foods consumed on the Schedule at the fair value [or entitlement value]. TheState of Vermont allocated USDA Foods to the respective program(s) that benefittedfrom the use of those USDA Foods.