Audit 15180

Title: Note 1 Accounting Policies: Note 1 -The Schedule of Expenditures of Federal and State Awards includes the federal and state grant activity of Athens City Board of Education and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Note 2 - Noncash items - Expenditures under the U.S. Department of Agriculture Food Distribution grant represent receipts and expenditures of noncash commodities as valued based on equivalent purchased product. Note 3 - Indirect Costs - The Athens City Board of Education has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate The Schedule of Expenditures of Federal and State Awards includes the federal and state grant activity of Athens City Board of Education and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.

Title: Note 2 Accounting Policies: Note 1 -The Schedule of Expenditures of Federal and State Awards includes the federal and state grant activity of Athens City Board of Education and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Note 2 - Noncash items - Expenditures under the U.S. Department of Agriculture Food Distribution grant represent receipts and expenditures of noncash commodities as valued based on equivalent purchased product. Note 3 - Indirect Costs - The Athens City Board of Education has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate Noncash items - Expenditures under the U.S. Department of Agriculture Food Distribution grant represent receipts and expenditures of noncash commodities as valued based on equivalent purchased product.

Title: Note 3 Accounting Policies: Note 1 -The Schedule of Expenditures of Federal and State Awards includes the federal and state grant activity of Athens City Board of Education and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Note 2 - Noncash items - Expenditures under the U.S. Department of Agriculture Food Distribution grant represent receipts and expenditures of noncash commodities as valued based on equivalent purchased product. Note 3 - Indirect Costs - The Athens City Board of Education has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate Indirect Costs - The Athens City Board of Education has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.