Notes to SEFA
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund Types are accounted for using a current financial resources measurement focus. All federal expenditures were accounted for in the General Fund and Special Revenue Funds, components of the Governmental Fund type. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. No federal financial assistance has been provided to a subrecipient.Federal grants are considered to be earned to the extent of expenditures made under the provisions of the grant.School health and related services revenues are considered earned income at the local government level and thus are not included in the Schedule of Expenditures of Federal Awards. The following is a reconciliation of Federal Revenues on Exhibit C-3 to the Schedule of Expenditures of Federal Awards:Total expenditures of federal awards per Exhibit K-1 $1,163,808General Fund - federal revenueSHARS 71,658Total federal revenues per Exhibit C-3 $1,235,466
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.