Notes to SEFA
Title: PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: This Schedule of Expenditures of Federal Award is prepared on the same basis of accounting as the Mount Vernon School District financial Statements. The Mount Vernon School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Mount Vernon School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Mount Vernon School Districts local matching share, may be more than shown.
Title: NONCASH AWARDS
Accounting Policies: This Schedule of Expenditures of Federal Award is prepared on the same basis of accounting as the Mount Vernon School District financial Statements. The Mount Vernon School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Mount Vernon School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount of commodities reported on the schedule is the value of commodities distributed by the Mount Vernon School District during the current year and priced as prescribed by the USDA.
Title: SCHOOLWIDE PROGRAMS
Accounting Policies: This Schedule of Expenditures of Federal Award is prepared on the same basis of accounting as the Mount Vernon School District financial Statements. The Mount Vernon School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Mount Vernon School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Mount Vernon School District operates a school wide program in 6 elementary buildings, 2 middle school buildings and 1 high school building. Using federal funding, school wide programs are designed to upgrade an entire educational program within a school for all students, rather than limit services to certain targeted students. The following federal program amounts were expended by the Mount VernonSchool District in its school wide program: Title I (84.010) $1,217,483 Migrant Education (84.011) $329,712 Title II (84.367) $79 Title III (84.365) $106,794