Title: Federal Funds
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability System Resource Guide. Special revenue funds are used to account for resources restricted to, or designated for, specific purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types and Expendable Trust Funds are accounted for using a current financial resources measurement focus. All Federal grant funds were accounted for in a Special Revenue Fund which is a Governmental Fund type.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in net current assets. The modified accrual basis of accounting is used for the Governmental Fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues until earned.
The period of availability for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 30 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3, OMB Circular A-133 Compliance Statement - Provisional 6/97.
Federal Assistance Listing number 10.565 pertains to food commodities distributed by USDA under the following categorical programs (as applicable): the National School Lunch Program (Federal Assistance Listing Number 10.555) and the School Breakfast Program (Federal Assistance Listing Number 10.553). USDA deleted this number from the Federal Assistance Listing on May 6, 2008. The audit covering the District fiscal year beginning September 1, 2010, and future audits, will therefore identify commodity assistance by the Federal Assistance Listing Number of the programs under which USDA donated the commodities.
According to the Texas Education Financial Accountability System Resource Guide, funds received from the School Health and Related Services (SHARS) program of $139,738, represent reimbursements to the District for school-based health services, which are provided to special education students enrolled in the Medicaid program, and these revenues are not considered federal financial assistance for inclusion in the Schedule of Expenditures of Federal Awards and are reported in the General Fund.
· The District has not elected to use the 10-percent de minimus indirect cost rate
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability System Resource Guide. Special revenue funds are used to account for resources restricted to, or designated for, specific purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
Title: Accounting & Financial Reporting Policies
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability System Resource Guide. Special revenue funds are used to account for resources restricted to, or designated for, specific purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types and Expendable Trust Funds are accounted for using a current financial resources measurement focus. All Federal grant funds were accounted for in a Special Revenue Fund which is a Governmental Fund type.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in net current assets. The modified accrual basis of accounting is used for the Governmental Fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues until earned.
The period of availability for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 30 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3, OMB Circular A-133 Compliance Statement - Provisional 6/97.
Federal Assistance Listing number 10.565 pertains to food commodities distributed by USDA under the following categorical programs (as applicable): the National School Lunch Program (Federal Assistance Listing Number 10.555) and the School Breakfast Program (Federal Assistance Listing Number 10.553). USDA deleted this number from the Federal Assistance Listing on May 6, 2008. The audit covering the District fiscal year beginning September 1, 2010, and future audits, will therefore identify commodity assistance by the Federal Assistance Listing Number of the programs under which USDA donated the commodities.
According to the Texas Education Financial Accountability System Resource Guide, funds received from the School Health and Related Services (SHARS) program of $139,738, represent reimbursements to the District for school-based health services, which are provided to special education students enrolled in the Medicaid program, and these revenues are not considered federal financial assistance for inclusion in the Schedule of Expenditures of Federal Awards and are reported in the General Fund.
· The District has not elected to use the 10-percent de minimus indirect cost rate
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types and Expendable Trust Funds are accounted for using a current financial resources measurement focus. All Federal grant funds were accounted for in a Special Revenue Fund which is a Governmental Fund type.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in net current assets. The modified accrual basis of accounting is used for the Governmental Fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues until earned.
Title: Period of Availabilty
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability System Resource Guide. Special revenue funds are used to account for resources restricted to, or designated for, specific purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types and Expendable Trust Funds are accounted for using a current financial resources measurement focus. All Federal grant funds were accounted for in a Special Revenue Fund which is a Governmental Fund type.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in net current assets. The modified accrual basis of accounting is used for the Governmental Fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues until earned.
The period of availability for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 30 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3, OMB Circular A-133 Compliance Statement - Provisional 6/97.
Federal Assistance Listing number 10.565 pertains to food commodities distributed by USDA under the following categorical programs (as applicable): the National School Lunch Program (Federal Assistance Listing Number 10.555) and the School Breakfast Program (Federal Assistance Listing Number 10.553). USDA deleted this number from the Federal Assistance Listing on May 6, 2008. The audit covering the District fiscal year beginning September 1, 2010, and future audits, will therefore identify commodity assistance by the Federal Assistance Listing Number of the programs under which USDA donated the commodities.
According to the Texas Education Financial Accountability System Resource Guide, funds received from the School Health and Related Services (SHARS) program of $139,738, represent reimbursements to the District for school-based health services, which are provided to special education students enrolled in the Medicaid program, and these revenues are not considered federal financial assistance for inclusion in the Schedule of Expenditures of Federal Awards and are reported in the General Fund.
· The District has not elected to use the 10-percent de minimus indirect cost rate
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The period of availability for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 30 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3, OMB Circular A-133 Compliance Statement - Provisional 6/97.
Title: Commodities
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability System Resource Guide. Special revenue funds are used to account for resources restricted to, or designated for, specific purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types and Expendable Trust Funds are accounted for using a current financial resources measurement focus. All Federal grant funds were accounted for in a Special Revenue Fund which is a Governmental Fund type.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in net current assets. The modified accrual basis of accounting is used for the Governmental Fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues until earned.
The period of availability for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 30 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3, OMB Circular A-133 Compliance Statement - Provisional 6/97.
Federal Assistance Listing number 10.565 pertains to food commodities distributed by USDA under the following categorical programs (as applicable): the National School Lunch Program (Federal Assistance Listing Number 10.555) and the School Breakfast Program (Federal Assistance Listing Number 10.553). USDA deleted this number from the Federal Assistance Listing on May 6, 2008. The audit covering the District fiscal year beginning September 1, 2010, and future audits, will therefore identify commodity assistance by the Federal Assistance Listing Number of the programs under which USDA donated the commodities.
According to the Texas Education Financial Accountability System Resource Guide, funds received from the School Health and Related Services (SHARS) program of $139,738, represent reimbursements to the District for school-based health services, which are provided to special education students enrolled in the Medicaid program, and these revenues are not considered federal financial assistance for inclusion in the Schedule of Expenditures of Federal Awards and are reported in the General Fund.
· The District has not elected to use the 10-percent de minimus indirect cost rate
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
Federal Assistance Listing number 10.565 pertains to food commodities distributed by USDA under the following categorical programs (as applicable): the National School Lunch Program (Federal Assistance Listing 10.555) and the School Breakfast Program (Federal Assistance Listing 10.553). USDA deleted this number from the Federal Assistance Listing on May 6, 2008. The audit covering the District fiscal year beginning September 1, 2010, and future audits, will therefore identify commodity assistance by the Federal Assistance Listing numbers of the programs under which USDA donated the commodities.
Title: School Heakth & Related Services
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability System Resource Guide. Special revenue funds are used to account for resources restricted to, or designated for, specific purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types and Expendable Trust Funds are accounted for using a current financial resources measurement focus. All Federal grant funds were accounted for in a Special Revenue Fund which is a Governmental Fund type.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in net current assets. The modified accrual basis of accounting is used for the Governmental Fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues until earned.
The period of availability for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 30 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3, OMB Circular A-133 Compliance Statement - Provisional 6/97.
Federal Assistance Listing number 10.565 pertains to food commodities distributed by USDA under the following categorical programs (as applicable): the National School Lunch Program (Federal Assistance Listing Number 10.555) and the School Breakfast Program (Federal Assistance Listing Number 10.553). USDA deleted this number from the Federal Assistance Listing on May 6, 2008. The audit covering the District fiscal year beginning September 1, 2010, and future audits, will therefore identify commodity assistance by the Federal Assistance Listing Number of the programs under which USDA donated the commodities.
According to the Texas Education Financial Accountability System Resource Guide, funds received from the School Health and Related Services (SHARS) program of $139,738, represent reimbursements to the District for school-based health services, which are provided to special education students enrolled in the Medicaid program, and these revenues are not considered federal financial assistance for inclusion in the Schedule of Expenditures of Federal Awards and are reported in the General Fund.
· The District has not elected to use the 10-percent de minimus indirect cost rate
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
According to the Texas Education Financial Accountability System Resource Guide, funds received from the School Health and Related Services (SHARS) program of $449,95103,690, represent reimbursements to the District for school-based health services, which are provided to special education students enrolled in the Medicaid program, and these revenues are not considered federal financial assistance for inclusion in the Schedule of Expenditures of Federal Awards and are reported in the General Fund.
Title: Indriect Cost Rate
Accounting Policies: For all Federal programs, the District uses the fund types specified in Texas Education Agency's Financial Accountability System Resource Guide. Special revenue funds are used to account for resources restricted to, or designated for, specific purposes by a grantor. Federal and state financial assistance generally is accounted for in a Special Revenue Fund.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types and Expendable Trust Funds are accounted for using a current financial resources measurement focus. All Federal grant funds were accounted for in a Special Revenue Fund which is a Governmental Fund type.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in net current assets. The modified accrual basis of accounting is used for the Governmental Fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received, they are recorded as deferred revenues until earned.
The period of availability for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 30 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Availability of Federal Funds, Part 3, OMB Circular A-133 Compliance Statement - Provisional 6/97.
Federal Assistance Listing number 10.565 pertains to food commodities distributed by USDA under the following categorical programs (as applicable): the National School Lunch Program (Federal Assistance Listing Number 10.555) and the School Breakfast Program (Federal Assistance Listing Number 10.553). USDA deleted this number from the Federal Assistance Listing on May 6, 2008. The audit covering the District fiscal year beginning September 1, 2010, and future audits, will therefore identify commodity assistance by the Federal Assistance Listing Number of the programs under which USDA donated the commodities.
According to the Texas Education Financial Accountability System Resource Guide, funds received from the School Health and Related Services (SHARS) program of $139,738, represent reimbursements to the District for school-based health services, which are provided to special education students enrolled in the Medicaid program, and these revenues are not considered federal financial assistance for inclusion in the Schedule of Expenditures of Federal Awards and are reported in the General Fund.
· The District has not elected to use the 10-percent de minimus indirect cost rate
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The District has not elected to use the 10-percent de minimus indirect cost rate.