Notes to SEFA
Title: Cluster of Programs
Accounting Policies: The accompanying schedule of expenditures of federal and State awards (SEFSA) includes the federal and State grant activity ofthe Board of Education of Moore County Schools (the "Board") under the programs of the federal government and the State ofNorth Carolina for the year ended June 30, 2022. The information in this SEFSA is presented in accordance with therequirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards and the State Single Audit Implementation Act. Because the Schedule presents only aselected portion of the operations of the Board, it is not intended to and does not present the financial position, changes in netassets or cash flows of the Board.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following are clustered by the NC Department of Public Instruction and are treated separately for state audit requirement purposes: School Nutrition Program
Title: Non-cash Assistance
Accounting Policies: The accompanying schedule of expenditures of federal and State awards (SEFSA) includes the federal and State grant activity ofthe Board of Education of Moore County Schools (the "Board") under the programs of the federal government and the State ofNorth Carolina for the year ended June 30, 2022. The information in this SEFSA is presented in accordance with therequirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards and the State Single Audit Implementation Act. Because the Schedule presents only aselected portion of the operations of the Board, it is not intended to and does not present the financial position, changes in netassets or cash flows of the Board.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Board has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Included in the amounts reported on the Schedule of Expenditures of Federal and State Awards, the Board received non-cash assistance in the form of food commodities and school buses. Non-cash items with a fair value of $1,033,218 were receivedduring the year ended June 30, 2022. These non-cash items received were included in the determination of federal and state awards expended for the year ended June 30, 2022.