Notes to SEFA
Title: FOOD DISTRIBUTION
Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity of theLas Animas County School District Number RE-1 and is presented on the modified accrual basis ofaccounting. The information is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards. Therefore, some amounts presented in this schedule may differ from amountspresented in, or used in the preparation of the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.All grants being charged indirect cost have been received through the Colorado Department ofEducation. The Department calculates an allowable indirect cost rate for individual sub-recipients andmandates that the rate be used as the maximum for the recovery of indirect cost. The District hasrecovered indirect cost from grant funds at an amount no greater than that allowed by the ColoradoDepartment of Education and has not elected to use the 10% de minimis indirect cost rate allowed byUniform Guidance.
Non-monetary assistance is reported in the schedule at the fair market value of commodities received.
Title: SUBRECIPIENTS
Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity of theLas Animas County School District Number RE-1 and is presented on the modified accrual basis ofaccounting. The information is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards. Therefore, some amounts presented in this schedule may differ from amountspresented in, or used in the preparation of the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.All grants being charged indirect cost have been received through the Colorado Department ofEducation. The Department calculates an allowable indirect cost rate for individual sub-recipients andmandates that the rate be used as the maximum for the recovery of indirect cost. The District hasrecovered indirect cost from grant funds at an amount no greater than that allowed by the ColoradoDepartment of Education and has not elected to use the 10% de minimis indirect cost rate allowed byUniform Guidance.
The District did not pass through any grant amounts to subrecipients for the year ended June 30, 2022.