Title: Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Charles Parish School Board and is presented on the accrual basis of accounting. 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 of the Schedule presents only a selected portion of the operations of
the School Board, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of the School Board.
Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Accrued and Deferred Reimbursement
Various reimbursement procedures are used for federal awards received by the School Board.
Consequently, timing differences between expenditures and program reimbursements can exist
at the beginning and end of year. Accrued balances at year-end represented an excess of
reimbursable expenditures over each reimbursement received. Generally, accrued balances caused
by differences in the timing of cash reimbursements and expenditures will be reversed in the
remaining grant period.
De Minimis Rate Used: N
Rate Explanation: St. Charles Parish School Board has elected not to use the 10 percent de minimis cost rate.
2. RELATIONSHIP TO FINANCIAL STATEMENTS
Title: Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Charles Parish School Board and is presented on the accrual basis of accounting. 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 of the Schedule presents only a selected portion of the operations of
the School Board, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of the School Board.
Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Accrued and Deferred Reimbursement
Various reimbursement procedures are used for federal awards received by the School Board.
Consequently, timing differences between expenditures and program reimbursements can exist
at the beginning and end of year. Accrued balances at year-end represented an excess of
reimbursable expenditures over each reimbursement received. Generally, accrued balances caused
by differences in the timing of cash reimbursements and expenditures will be reversed in the
remaining grant period.
De Minimis Rate Used: N
Rate Explanation: St. Charles Parish School Board has elected not to use the 10 percent de minimis cost rate.
Federal revenues are reported in the School Board's financial statements as follows:
Title: Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Charles Parish School Board and is presented on the accrual basis of accounting. 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 of the Schedule presents only a selected portion of the operations of
the School Board, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of the School Board.
Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Accrued and Deferred Reimbursement
Various reimbursement procedures are used for federal awards received by the School Board.
Consequently, timing differences between expenditures and program reimbursements can exist
at the beginning and end of year. Accrued balances at year-end represented an excess of
reimbursable expenditures over each reimbursement received. Generally, accrued balances caused
by differences in the timing of cash reimbursements and expenditures will be reversed in the
remaining grant period.
De Minimis Rate Used: N
Rate Explanation: St. Charles Parish School Board has elected not to use the 10 percent de minimis cost rate.
Federal sources - direct $ 9,211,023
Title: Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Charles Parish School Board and is presented on the accrual basis of accounting. 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 of the Schedule presents only a selected portion of the operations of
the School Board, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of the School Board.
Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Accrued and Deferred Reimbursement
Various reimbursement procedures are used for federal awards received by the School Board.
Consequently, timing differences between expenditures and program reimbursements can exist
at the beginning and end of year. Accrued balances at year-end represented an excess of
reimbursable expenditures over each reimbursement received. Generally, accrued balances caused
by differences in the timing of cash reimbursements and expenditures will be reversed in the
remaining grant period.
De Minimis Rate Used: N
Rate Explanation: St. Charles Parish School Board has elected not to use the 10 percent de minimis cost rate.
Federal sources - subgrants 11,823,280
Title: Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Charles Parish School Board and is presented on the accrual basis of accounting. 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 of the Schedule presents only a selected portion of the operations of
the School Board, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of the School Board.
Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Accrued and Deferred Reimbursement
Various reimbursement procedures are used for federal awards received by the School Board.
Consequently, timing differences between expenditures and program reimbursements can exist
at the beginning and end of year. Accrued balances at year-end represented an excess of
reimbursable expenditures over each reimbursement received. Generally, accrued balances caused
by differences in the timing of cash reimbursements and expenditures will be reversed in the
remaining grant period.
De Minimis Rate Used: N
Rate Explanation: St. Charles Parish School Board has elected not to use the 10 percent de minimis cost rate.
Total amount as reported on the schedule of federal awards $ 20,636,808
Title: Non-Cash Assistance - Food Commodities
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Charles Parish School Board and is presented on the accrual basis of accounting. 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 of the Schedule presents only a selected portion of the operations of
the School Board, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of the School Board.
Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Accrued and Deferred Reimbursement
Various reimbursement procedures are used for federal awards received by the School Board.
Consequently, timing differences between expenditures and program reimbursements can exist
at the beginning and end of year. Accrued balances at year-end represented an excess of
reimbursable expenditures over each reimbursement received. Generally, accrued balances caused
by differences in the timing of cash reimbursements and expenditures will be reversed in the
remaining grant period.
De Minimis Rate Used: N
Rate Explanation: St. Charles Parish School Board has elected not to use the 10 percent de minimis cost rate.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received
Title: Non-Cash Assistance - Food Commodities
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Charles Parish School Board and is presented on the accrual basis of accounting. 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 of the Schedule presents only a selected portion of the operations of
the School Board, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of the School Board.
Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Accrued and Deferred Reimbursement
Various reimbursement procedures are used for federal awards received by the School Board.
Consequently, timing differences between expenditures and program reimbursements can exist
at the beginning and end of year. Accrued balances at year-end represented an excess of
reimbursable expenditures over each reimbursement received. Generally, accrued balances caused
by differences in the timing of cash reimbursements and expenditures will be reversed in the
remaining grant period.
De Minimis Rate Used: N
Rate Explanation: St. Charles Parish School Board has elected not to use the 10 percent de minimis cost rate.
and disbursed. During the year ended June 30, 2023, the School Board received commodities valued
Title: Non-Cash Assistance - Food Commodities
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of St. Charles Parish School Board and is presented on the accrual basis of accounting. 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 of the Schedule presents only a selected portion of the operations of
the School Board, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of the School Board.
Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Accrued and Deferred Reimbursement
Various reimbursement procedures are used for federal awards received by the School Board.
Consequently, timing differences between expenditures and program reimbursements can exist
at the beginning and end of year. Accrued balances at year-end represented an excess of
reimbursable expenditures over each reimbursement received. Generally, accrued balances caused
by differences in the timing of cash reimbursements and expenditures will be reversed in the
remaining grant period.
De Minimis Rate Used: N
Rate Explanation: St. Charles Parish School Board has elected not to use the 10 percent de minimis cost rate.
at $537,673. At June 30, 2023, the School Board had food commodities totaling $171,316 in inventory.