Notes to SEFA
Title: Noncash Assistance
Accounting Policies: Expenditures are recognized following the modified accrual basis of accounting. Such expenditures are reported following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule includes federal awards in the form of noncash assistance (commodities) received during the year in the amount of $1,488,043 related to USDA Commodities grants (CFDA Number 10.555) provided by the U.S. Department of Agriculture and passed through the Oklahoma Department of Human Services.
Title: Basis of Presentation
Accounting Policies: Expenditures are recognized following the modified accrual basis of accounting. Such expenditures are reported following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of the District for the year ended June 30, 2022 and is presented on the modified accrual basis of accounting. All federal awards received directly from federal agencies, as well as federal awards passed through other governmental agencies, and expended during the year are included in the Schedule. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this Schedule may differ from the amounts presented in or used in the preparation of the basic financial statements.