Notes to SEFA
Title: Basis of Accounting
Accounting Policies: Basis of Accounting - This schedule was prepared on the budgetary (cash) basis. Nonmonetary Assistance - Nonmonetary assistance is reported in the Schedule of Federal Awards at the fair market value of the food commodities or food stamps disbursed. At June 30, 2023, the School Board had food commodities totaling $391,731 in inventory.
De Minimis Rate Used: N
Rate Explanation: No indirect costs were applied.
This schedule was prepared on the budgetary (cash) basis.
Title: Nonmonetary Assistance
Accounting Policies: Basis of Accounting - This schedule was prepared on the budgetary (cash) basis. Nonmonetary Assistance - Nonmonetary assistance is reported in the Schedule of Federal Awards at the fair market value of the food commodities or food stamps disbursed. At June 30, 2023, the School Board had food commodities totaling $391,731 in inventory.
De Minimis Rate Used: N
Rate Explanation: No indirect costs were applied.
Nonmonetary assistance is reported in the Schedule of Federal Awards at the fair market value of the food commodities or food stamps disbursed. At June 30, 2023, the School Board had food commodities totaling $391,731 in inventory.
Title: De Minimis Indirect Cost Rate
Accounting Policies: Basis of Accounting - This schedule was prepared on the budgetary (cash) basis. Nonmonetary Assistance - Nonmonetary assistance is reported in the Schedule of Federal Awards at the fair market value of the food commodities or food stamps disbursed. At June 30, 2023, the School Board had food commodities totaling $391,731 in inventory.
De Minimis Rate Used: N
Rate Explanation: No indirect costs were applied.
The entity did not elect to use the 10% de minimis indirect cost rate.
Title: Outstanding Loan Balances
Accounting Policies: Basis of Accounting - This schedule was prepared on the budgetary (cash) basis. Nonmonetary Assistance - Nonmonetary assistance is reported in the Schedule of Federal Awards at the fair market value of the food commodities or food stamps disbursed. At June 30, 2023, the School Board had food commodities totaling $391,731 in inventory.
De Minimis Rate Used: N
Rate Explanation: No indirect costs were applied.
At June 30, 2023, the County had no outstanding loan balances requiring continuing disclosure. At June 30, 2023, the PSA had an outstanding Drinking Water State Revolving Fund loan balance of $3,576,322.