Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Livingston 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the School Board's financial statements or under specific reporting methods required by certain awards.
Title: Food Distribution Program
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Livingston 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: N/A
The commodities received is considered noncash assistance and is reported in the schedule at the fair market value of the commodities received and disbursed. During the year ended June 30, 2023, the School Board received commodities valued at $1,444,027. At June 30, 2023, the organization had food commodities totaling $125,069 in inventory.
Title: Indirect Cost Rate Election
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Livingston 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: N/A
The School Board did not elect to use the 10% de minimis indirect cost rate during the year ended June 30, 2023.
Title: Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Livingston 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: N/A
Federal awards expenditures are reported in the School Board's financial statements as follows:
Federal Sources
Disaster fund $ 3,088,100
Education Stabilization Fund 20,990,312
Nonmajor governmental:
Elementary and Secondary Education Act Title I 5,338,959
Special Education 5,190,986
Maintenance of Schools 1,163,091
School Lunch 16,511,668
Special Federal 1,277,039
Other Federal ESEA 1,909,497
Total federal revenues $ 55,469,652
Less:
Revenues reported in the current year on
disaster expenditures reported in a prior year $ (4,251,191)
Total federal expenditures $ 51,218,461
Title: Matching Revenues
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Livingston 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: N/A
For those funds that have matching revenues and state funding, federal expenditures were determined by deducting matching revenues from total expenditures.
Title: Amounts Passed Through to Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Livingston 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: N/A
During the year ended June 30, 2023, the School Board did not pass through any federal funding to subrecipients.