Notes to SEFA
Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards, wherein certain types of expenditures may or may not be
allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10‐percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of Three Rivers Local School District (the District) under programs of the
federal government for the year ended June 30, 2023. The information on this Schedule is
prepared 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: NOTE D ‐ CHILD NUTRITION CLUSTER
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards, wherein certain types of expenditures may or may not be
allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10‐percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The District commingles cash receipts from the U.S. Department of Agriculture with similar State
grants. When reporting expenditures on this Schedule, the District assumes it expends federal
monies first.
Title: NOTE E – FOOD DONATION PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards, wherein certain types of expenditures may or may not be
allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10‐percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The District reports commodities consumed on the Schedule at the fair value. The District
allocated donated food commodities to the respective program that benefited from the use of
those donated food commodities.