Title: Matching Costs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all Federal awards programs administered by the Deposit Central School District, an entity as defined in Note 1 to the Deposit Central School District's basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the Schedule of Expenditures of Federal Awards. The basis of accounting varies by federal program consistent with the underlying
regulations pertaining to each program. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in, preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The Deposit Central School District has elected not to use the 10% de minimis indirect cost rate allowed under
Uniform Guidance.
Matching costs, such as the Deposit Central School District's share of certain program costs, are not included in the reported expenditures.
Title: Non-Monetary Federal Program
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all Federal awards programs administered by the Deposit Central School District, an entity as defined in Note 1 to the Deposit Central School District's basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the Schedule of Expenditures of Federal Awards. The basis of accounting varies by federal program consistent with the underlying
regulations pertaining to each program. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in, preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The Deposit Central School District has elected not to use the 10% de minimis indirect cost rate allowed under
Uniform Guidance.
The Deposit Central School District is the recipient of a Federal award program that does not result in cash receipts or disbursements termed a “non-monetary program.” During the year ended June 30, 2023, the Deposit Central School District received $25,386 worth of commodities under the National School Lunch Program (ALN #10.555).
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all Federal awards programs administered by the Deposit Central School District, an entity as defined in Note 1 to the Deposit Central School District's basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the Schedule of Expenditures of Federal Awards. The basis of accounting varies by federal program consistent with the underlying
regulations pertaining to each program. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in, preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The Deposit Central School District has elected not to use the 10% de minimis indirect cost rate allowed under
Uniform Guidance.
No amounts were provided to subrecipients.
Title: Other Disclosures
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all Federal awards programs administered by the Deposit Central School District, an entity as defined in Note 1 to the Deposit Central School District's basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the Schedule of Expenditures of Federal Awards. The basis of accounting varies by federal program consistent with the underlying
regulations pertaining to each program. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may
differ from amounts presented in, or used in, preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The Deposit Central School District has elected not to use the 10% de minimis indirect cost rate allowed under
Uniform Guidance.
No insurance is carried specifically to cover equipment purchased with Federal Funds. Any equipment purchased with Federal Funds has only a nominal value and is covered by the School District’s casualty insurance policies.
There were no loans or loan guarantees outstanding at year end.