Notes to SEFA
Accounting Policies: The Crestwood School District (the District) as the reporting entity for financial reporting purposes is defined in Note 1 to the Districts basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the Districts reporting entity is the same that was used for financial reporting. The accompanying Schedule of Expenditures of Federal Awards included the grant activity of the School District and is presented using the modified accrual basis of accounting, which is described in Note 1 to the Districts basic financial statements. The School District did not use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.