Notes to SEFA
Title: NOTE 1. BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the acccrual 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. The company has elected not to use the 10percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has not used the de minimis 10% indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Laramie County School District 2 is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Uniform Guidance, "Audits of State, Local Governments, and Non-Profit Organizations". Therefore, some amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of the basic financial statements.
Title: NOTE 2. CHILD NUTRITION CLUSTER (CFDA 10.553/10.555)
Accounting Policies: Expenditures reported on the Schedule are reported on the acccrual 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. The company has elected not to use the 10percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has not used the de minimis 10% indirect cost rate.
Federal reimbursement for the National School Lunch Program are based on approved rates for services provided and are not reimbursements for specific expenditures. Therefore, this amount represents cash received rather than federal expenditures.
Title: NOTE 3. CONTINGENCIES
Accounting Policies: Expenditures reported on the Schedule are reported on the acccrual 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. The company has elected not to use the 10percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has not used the de minimis 10% indirect cost rate.
The School District receives funds under various federal grant programs and such assitance is to be expended in accordance with the provisions of the various grants. Compliance with the grants is subject to audit by various government agencies which may impose sanctions in the event of noncompliance. Management believes that they have complied with all aspects of the various grant provisions and the results of adjustments, if any, relating to such audits would not have a material financial impact.
Title: NOTE 4. NON-CASH AWARDS
Accounting Policies: Expenditures reported on the Schedule are reported on the acccrual 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. The company has elected not to use the 10percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has not used the de minimis 10% indirect cost rate.
Non-cash awards received under the Commodity Supplemental Food (CFDA #10.555) are reflected at the estimated value provided by the donor.
Title: NOTE 5. SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the acccrual 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. The company has elected not to use the 10percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has not used the de minimis 10% indirect cost rate.
The District provided no funds to subrecipients during the year.
Title: NOTE 6. TRANSFERABILITY
Accounting Policies: Expenditures reported on the Schedule are reported on the acccrual 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. The company has elected not to use the 10percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has not used the de minimis 10% indirect cost rate.
The District has reallocated $52,325 from Title IV(CFDA 84.424) to Title 1 (CFDA 84.010) to Title 1 (CFDA 84.0101) as allowed by the grant. The amount reallocated have been included in the expenditures of the receiving program, Title 1.