Notes to SEFA
Title: NOTE B • COMMODITIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Park County School District Number 6 and is presented on the modified accrual basis of accounting, except for amounts presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations.
De Minimis Rate Used: Y
Rate Explanation: The District is eligible to apply a 10%-14% de minimis indirect cost rate on certain grants that have been awarded. The District has evaluated the application of indirect costs on a grant-by-grant basis.
Nonmonetary assistance, such as food received from the United States Department of Agriculture, is reported as revenue at fair market value.
Title: NOTE C • SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Park County School District Number 6 and is presented on the modified accrual basis of accounting, except for amounts presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations.
De Minimis Rate Used: Y
Rate Explanation: The District is eligible to apply a 10%-14% de minimis indirect cost rate on certain grants that have been awarded. The District has evaluated the application of indirect costs on a grant-by-grant basis.
Park County School District Number 6 has no subrecipients that receive federal funds that are passed through the District.