Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Zachary Community School Board and is presented on the modified 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).
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2023, the School Board did not elect to use the 10% de minimus cost rate as covered in §200.414 of the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Zachary Community School Board and is presented on the modified 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).
Title: NONMONETARY ASSISTANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Zachary Community School Board and is presented on the modified 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).
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2023, the School Board did not elect to use the 10% de minimus cost rate as covered in §200.414 of the Uniform Guidance.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. The School Board received $204,985 of commodities during the year ended June 30, 2023. At June 30, 2023, the School Board had food commodities totaling $37,719 in inventory.
Title: RECONCILIATION TO FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Zachary Community School Board and is presented on the modified 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).
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2023, the School Board did not elect to use the 10% de minimus cost rate as covered in §200.414 of the Uniform Guidance.
Total Federal Award Expenditures per schedule $ 9,138,036
Total federal revenue per the Statement of Revenues, Expenditures and Changes in Fund Balance for the year ended June 30, 2023 are reported in the revenue accounts as follows: General Fund – Restricted grants-in-aid-direct $ 99,394 Other Governmental Funds:
Restricted grants-in-aid-sub grants 8,833,657
Commodities 204,985
$ 9,138,036
Title: DE MINIMIS COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Zachary Community School Board and is presented on the modified 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).
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2023, the School Board did not elect to use the 10% de minimus cost rate as covered in §200.414 of the Uniform Guidance.
During the year ended June 30, 2023, the School Board did not elect to use the 10% de minimis cost rate as covered in §200.414 of the Uniform Guidance.
Title: AMOUNTS PASSED THROUGH TO SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Zachary Community School Board and is presented on the modified 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).
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2023, the School Board did not elect to use the 10% de minimus cost rate as covered in §200.414 of the Uniform Guidance.
During the year ended June 30, 2023, the School Board did not pass through any federal funding to subrecipients.