Notes to SEFA
Accounting Policies: The expenditures included in the accompanying Schedule were reported on the accrual basis of accounting. Under the accrual basis of accounting, expenditures are recognized when incurred. Expenditures reported include any property or equipment acquisitions incurred under the federal program. The District elected to use the 10% de minimis cost rate during the year ended June 30, 2023.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.