Notes to SEFA
Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIESBasis of PresentationThe accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered bythe Sidney Central School District. The School Districts organization is defined in Note 1 to the SchoolDistricts financial statements.Basis of AccountingThe expenditures in the accompanying schedule are presented on an accrual basis of accounting. Theinformation in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ fromamounts presented in, or used in the preparation of, the basic financial statements.FOOD DONATIONNonmonetary assistance is reported in the schedule at fair market value of the food commodities received. AtJune 30, 2022, the School District had food commodities totaling $9,539 in inventory.INDIRECT COST RATEThe School District has not elected to use the 10% de minimis indirect cost rate.CLUSTER PROGRAMSThe following programs are identified by OMB Compliance Supplement to be part of a cluster of programs:U.S. Department of AgricultureNutrition ClusterAL #10.553 School Breakfast ProgramAL #10.555 National School Lunch ProgramAL #10.559 Summer Food Service ProgramU.S. Department of EducationSpecial Education ClusterAL #84.027 Special Education - Grants to States (IDEA, Part B)AL #84.173 Special Education - Preschool Grants (IDEA Preschool)
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.