Notes to SEFA
Title: Note I - Basis of Presentation
Accounting Policies: Modified Accrual basis
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the District under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements 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 Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position or changes in net assets of the District.
Title: Note II - Summary of Accounting Policies
Accounting Policies: Modified Accrual basis
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note III - Indirect Cost Rate
Accounting Policies: Modified Accrual basis
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note IV - Subrecipients
Accounting Policies: Modified Accrual basis
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The District does not pass-through federal awards to any subrecipients.