Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Cape Girardeau Public School District No. 63 (the “District”) under programs of the federal government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
Expenditures reported on the Schedule are reported on the accrual basis of accounting. The accrual basis recognizes revenue when earned, and expenditures are recognized when the obligation is incurred. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
The District has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
Amounts passed-through to subrecipients during the year ended June 30, 2023 totaled $30,200 and were entirely for Career and Technical Education – Basic Grants to States (CFDA Number 84.048 A).
Title: FOOD DISTRIBUTION
Accounting Policies: ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
Amounts for the food distribution program (CFDA Number 10.555) include a dollar value assigned to commodities based on prices provided by the State Department of Elementary and Secondary Education. Expenditures reported for commodities are included in the National School Lunch Program and represent the value of commodities received during the year ended June 30, 2023. A recap of all expenditures included in CFDA Number 10.555 is as follows:
Title: FOOD DISTRIBUTION
Accounting Policies: ACCRUAL BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
Commodities consumed represent expenditures included in the National School Lunch Program (Federal CFDA Number 10.555) in the Schedule of Expenditures of Federal Awards.