Audit 1342

FY End
2022-06-30
Total Expended
$5.42M
Findings
0
Programs
14
Organization: Smith County School District (MS)
Year: 2022 Accepted: 2023-10-25

Organization Exclusion Status:

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Contacts

Name Title Type
SUHAACXG3523 Duane Fewell Auditee
6017824296 Brent Ballard Auditor
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Notes to SEFA

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are liminted as to reimbursement. De Minimis Rate Used: N Rate Explanation: N/A The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the
Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are liminted as to reimbursement. De Minimis Rate Used: N Rate Explanation: N/A federal award activity of the School District under programs of the federal government for the year
Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are liminted as to reimbursement. De Minimis Rate Used: N Rate Explanation: N/A ended June 30, 2022. The information in this Schedule is presented in accordance with the
Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are liminted as to reimbursement. De Minimis Rate Used: N Rate Explanation: N/A requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are liminted as to reimbursement. De Minimis Rate Used: N Rate Explanation: N/A Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are liminted as to reimbursement. De Minimis Rate Used: N Rate Explanation: N/A Because the schedule presents only a selected portion of the operations of the School District, it is
Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are liminted as to reimbursement. De Minimis Rate Used: N Rate Explanation: N/A not intended to and does not present the financial position, changes in net position, or cash flows
Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are liminted as to reimbursement. De Minimis Rate Used: N Rate Explanation: N/A of the School District.
Title: Other Items Accounting Policies: Expenditures reported on the Schedule are presented on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are liminted as to reimbursement. De Minimis Rate Used: N Rate Explanation: N/A Donated commodities of $158,256 are included in the National School Lunch Program.