Notes to SEFA
Title: Basis of Presentation
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 grant funds were accounted for in governmental fund types utilizing the current financial resources measurement focus. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and accordingly, when such funds are received, they are recorded as unearned revenue until earned.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate as allowed by Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal award activity of the District under programs of the federal government for the year ended June 30, 2023. The information in the SEFA is presented in accordance with the requiremnets of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the SEFA presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position or cash flows of the District.
Title: Subrecipients
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 grant funds were accounted for in governmental fund types utilizing the current financial resources measurement focus. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and accordingly, when such funds are received, they are recorded as unearned revenue until earned.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate as allowed by Uniform Guidance.
The District did not provide any federal awards to subrecipients.
Title: Exclusions from Uniform Guidance
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 grant funds were accounted for in governmental fund types utilizing the current financial resources measurement focus. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and accordingly, when such funds are received, they are recorded as unearned revenue until earned.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate as allowed by Uniform Guidance.
Title VII - Section 7008 payments (if any) are included on the Schedule of Expenditures of Federal Awards but are excluded from testing under Uniform Guidance per the OMB Compliance Supplement.