Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents total federal
awards expended for each individual federal program in accordance with the requirements
of the Office of Management and Budget Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards. Federal award program titles are
reported as presented in the Catalog of Federal Domestic Assistance (CFDA).
Federal financial assistance received is reflected in the District’s financial statements within
the General Fund as grants-in-aid from federal sources.The Schedule of Expenditures of Federal Awards includes the federal grant activity of the
Summit Hill School District No. 161 and is presented on the modified accrual basis of
accounting. The information presented in this schedule is presented in accordance with the
requirements of the Office of Management and Budget Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore,
some amounts presented in this schedule may differ from amounts presented in, or used in
the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Summit Hill School District No. 161 did not elect to use the 10% de minimis cost rate.