Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown
on the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Leslie
Public Schools has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Management has utilized the Nexsys, the Cash Management System (CMS) and the Grant Auditor Report in
preparing the Schedule of Expenditures of Federal Awards. The District does not pass through federal funds.
The accompanying Schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of Leslie Public Schools under programs of the federal government for the year ended June 30, 2023.
The information in this Schedule 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). Because the Schedule presents only a selected portion of the operations
of Leslie Public Schools, it is not intended to and does not present the financial position or changes in net position
of Leslie Public Schools.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown
on the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Leslie
Public Schools has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Management has utilized the Nexsys, the Cash Management System (CMS) and the Grant Auditor Report in
preparing the Schedule of Expenditures of Federal Awards. The District does not pass through federal funds.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown
on the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Leslie
Public Schools has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Management has utilized the Nexsys, the Cash Management System (CMS) and the Grant Auditor Report in
preparing the Schedule of Expenditures of Federal Awards. The District does not pass through federal funds.
Title: RECONCILIATION WITH AUDITED FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown
on the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Leslie
Public Schools has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Management has utilized the Nexsys, the Cash Management System (CMS) and the Grant Auditor Report in
preparing the Schedule of Expenditures of Federal Awards. The District does not pass through federal funds.
Federal expenditures are reported as revenue in the following funds in the financial statements:
General fund $ 1,310,267
Other nonmajor governmental funds 460,111
Total per financial statements 1 ,770,378
Less:
Federal assistance funding not subject to single audit act (121,894)
Adjustments (64,530)
Total expenses per SEFA $ 1,583,954
Title: ADJUSTMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown
on the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Leslie
Public Schools has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Management has utilized the Nexsys, the Cash Management System (CMS) and the Grant Auditor Report in
preparing the Schedule of Expenditures of Federal Awards. The District does not pass through federal funds.
An adjustment was made for Assistance Listing #32.009 ($84,800) for prior year federal expenditures incurred
by not reported on the SEFA. Adjustments were also made for Assistance Listing #84.010 ($15,811) and
Assistance Listing #84.367 ($4,459), respectively, for federal expenditures incurred but not requested for
reimbursement.