Title: NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards
includes the federal award activity of the Vernon Parish School Board, Leesville, Louisiana under programs of the
federal government for the year ended June 30, 2023. 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 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 or changes in net assets of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 basic financial statements of the School Board’s Annual Comprehensive Financial
Report. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not to use the de minimis cost rate.
NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTS Federal awards revenues are reported in
the School Board's basic financial statements as follows:
Federal Sources
Major Funds:
General $ 7,018,252
Headstart 4,758,506
Education Stabilization Grant 8,346,922
DCIP Construction fund 5,591,645
Non Major Funds:
Special Education 2,079,646
School Food Service 3,740,670
Title I 2,687,040
Miscellaneous Federal Grants 1,019,490
Hurricane Laura Construction 241,394
Total per Statement E 35,483,565
DCIP Construction fund - Deferred Inflow of Resources reported in prior year (3,494,451)
Total per Schedule of Expenditures of Federal Awards $ 31,989,114
Title: NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards
includes the federal award activity of the Vernon Parish School Board, Leesville, Louisiana under programs of the
federal government for the year ended June 30, 2023. 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 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 or changes in net assets of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 basic financial statements of the School Board’s Annual Comprehensive Financial
Report. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not to use the de minimis cost rate.
NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS Amounts reported in the accompanying
schedule agree with the amounts reported in the related federal financial reports except for changes made to reflect
amounts in accordance with accounting principles generally accepted in the United States of America.
The DCIP Construction fund is used to account for the Community Investment grant. For the fiscal year ended June
30, 2022 an accounts receivable was recorded for $3,494,451 and the income was recorded as deferred in the fund
financial statements because the reimbursement was not received within 60 days of year end. The deferred inflow of
$3,494,451 is recognized as federal revenue in the current year
Title: NOTE 5 - MATCHING REVENUES
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards
includes the federal award activity of the Vernon Parish School Board, Leesville, Louisiana under programs of the
federal government for the year ended June 30, 2023. 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 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 or changes in net assets of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 basic financial statements of the School Board’s Annual Comprehensive Financial
Report. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not to use the de minimis cost rate.
NOTE 5 - MATCHING REVENUES For those funds that have matching revenues and state funding, federal
expenditures were determined by deducting matching revenues from total expenditures.
Title: NOTE 6 - NONCASH PROGRAMS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards
includes the federal award activity of the Vernon Parish School Board, Leesville, Louisiana under programs of the
federal government for the year ended June 30, 2023. 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 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 or changes in net assets of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 basic financial statements of the School Board’s Annual Comprehensive Financial
Report. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee has elected not to use the de minimis cost rate.
NOTE 6 - NONCASH PROGRAMS The commodities received, which are noncash revenues, are valued using
prices provided by the United States Department of Agriculture.