Notes to SEFA
Title: 1
Accounting Policies: SEE ATTACHED
De Minimis Rate Used: N
Rate Explanation: Used the MDE assigned rate.
This schedule includes the federal grant activity of Reading Community Schools and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and reconciles with the amounts presented in the financial statements.
Title: 2
Accounting Policies: SEE ATTACHED
De Minimis Rate Used: N
Rate Explanation: Used the MDE assigned rate.
Management has utilized the Grants Section Auditors Report (Form R7120) and CMS Grant Auditor Report (GAR) in preparing this schedule.
Title: 3
Accounting Policies: SEE ATTACHED
De Minimis Rate Used: N
Rate Explanation: Used the MDE assigned rate.
The amounts reported on the Recipient Entitlement Balance Report agree with this schedule for USDA donated food commodities.
Title: 4
Accounting Policies: SEE ATTACHED
De Minimis Rate Used: N
Rate Explanation: Used the MDE assigned rate.
The Child Nutrition Cluster (ALN #10.553, 10.555, and 10.559) and Education Stabilization Fund (ALN #84.425) were audited as major programs, representing 30.7% and 54.6%, respectively, of total Federal expenditures.
Title: 5
Accounting Policies: SEE ATTACHED
De Minimis Rate Used: N
Rate Explanation: Used the MDE assigned rate.
Reading Community Schools has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.