Notes to SEFA
Accounting Policies: A. BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includesthe federal award activity of the School under programs of the federal government for theyear ended June 30, 2022. The information on this Schedule is prepared in accordancewith the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the School it is not intended to and does not present the financial position,changes in net position, or cash flows of the School.B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the cash basis of accounting. Suchexpenditures are recognized following the cost principles contained in Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards, wherein certain types of expenditures may or maynot be allowable or may be limited as to reimbursement. The School has elected not to usethe 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.C. CHILD NUTRITION CLUSTERThe School commingles cash receipts from the U.S. Department of Agriculture with similarState grants. When reporting expenditures on this Schedule, the School assumes itexpends federal monies first.D. FOOD DONATION PROGRAMThe School reports commodities consumed on the Schedule at the entitlement value. TheSchool allocated donated food commodities to the respective program that benefitted fromthe use of those donated food commodities.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.