Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: EXPENDITURES REPORTE ON THE SCHEDULE ARE REPORTED ON THE MODIFIED CASH BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN TITLE 2 U.S. CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS WHEREIN CERTAIN TYPES OF EXPENDITURES ARE ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENTR. THE DISTRICT HAS NOT ELECTED TO USE THE 10% DE MINIMUS COST RATE
De Minimis Rate Used: N
Rate Explanation: N/A
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF THE DISTRICT UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED DECEMBER 31, 2021. THE INFORMATION IN THE SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF THE OFFICE OF MANAGEMENT AND BUDGET (OMB) UNIFORM GUIDANCE. BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF OPERATIONS OF THE DISTRICT, IT IS NOT INTENDED TO BE AND DOES NOT PRESENT THE FINANCIAL POSITION OR CHANGES IN NET POSITION OF THE DISTRICT. THE DISTRICT HAS NOT ELECTED TO USE THE 10% DEMINIMUS COST RATE.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: EXPENDITURES REPORTE ON THE SCHEDULE ARE REPORTED ON THE MODIFIED CASH BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN TITLE 2 U.S. CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS WHEREIN CERTAIN TYPES OF EXPENDITURES ARE ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENTR. THE DISTRICT HAS NOT ELECTED TO USE THE 10% DE MINIMUS COST RATE
De Minimis Rate Used: N
Rate Explanation: N/A
EXPENDITURES REPORTE ON THE SCHEDULE ARE REPORTED ON THE MODIFIED CASH BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN TITLE 2 U.S. CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS WHEREIN CERTAIN TYPES OF EXPENDITURES ARE ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENTR. THE DISTRICT HAS NOT ELECTED TO USE THE 10% DE MINIMUS COST RATE