Notes to SEFA
Title: Loan guarantees
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Theseexpenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theSchedule, if any, represent adjustments or credits made in the normal course of business to amounts reportedas expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District did not participate in any loan or loan guarantee programs as described in Title 2, Code of FederalRegulations, Part 200.502(b) during the year.