Title: GENERAL
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Groesbeck Independent School District (the “District”). The District’s reporting entity is defined in Note I of the financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards. The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The District’s significant account policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Groesbeck Independent School District (the “District”). The District’s reporting entity is defined in Note I of the financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
Title: BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Groesbeck Independent School District (the “District”). The District’s reporting entity is defined in Note I of the financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards. The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The District’s significant account policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The District’s significant account policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: INDIRECT COSTS
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Groesbeck Independent School District (the “District”). The District’s reporting entity is defined in Note I of the financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards. The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The District’s significant account policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
Groesbeck Independent School District has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
Title: RECONCILIATION OF FEDERAL REVENUES
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Groesbeck Independent School District (the “District”). The District’s reporting entity is defined in Note I of the financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards. The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The District’s significant account policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
The following is the reconciliation of federal revenues and the Schedule of Expenditures of Federal
Awards for the year ended August 31, 2023: See Notes to SEFA for Chart/Table.
Title: PASS-THROUGH EXPENDITURES
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Groesbeck Independent School District (the “District”). The District’s reporting entity is defined in Note I of the financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards. The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. The District’s significant account policies, including the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
None of the expenditures reported on the Schedule of Expenditures of Federal Awards were passed
through to subrecipients.