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 and OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments for the school climate transformation grant, wherein certain types of expenditures are not allowable or limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made to amounts reported as expenditures in prior years.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 reports are prepared from records maintained for each program, which are reconciled with the Districts financial reporting system.Non-cash assistance is reported in the schedule at the fair market value of commodities received, which isprovided by New York State under the National School Lunch Program.
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 and OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments for the school climate transformation grant, wherein certain types of expenditures are not allowable or limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made to amounts reported as expenditures in prior years.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 reports are prepared from records maintained for each program, which are reconciled with the Districts financial reporting system.Non-cash assistance is reported in the schedule at the fair market value of commodities received, which isprovided by New York State under the National School Lunch Program.
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 Longwood Central School Districts casualty insurance policies. There were no loans or loan guarantees outstanding at year end.