Notes to SEFA
Title: Note 2 - USDA Donated Commodities
Accounting Policies: Note 1 Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of LineMountain School District and is presented on the accrual basis of accounting. The information in thisschedule is presented in accordance with the requirements of Title 2 US. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ fromamounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities receivedand disbursed. At June 30, 2022, the organization had $9,737 food commodities in inventory.