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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Romeo Community Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Romeo Community 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 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 Romeo Community Schools, it is not intended to and does not present the financial position and changes in financial positions of Romeo Community Schools.
Title: Reconciliation to the 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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Romeo Community Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following reconciled the federal revenue reported in the June 30, 2023 financial statements to the expenditures on Romeo Community Schools administered federal programs reported on the schedule of expenditures of federal awards: Federal expenditures per the schedule of expenditures of federal awards $ 5,814,159
Child Care Relief Fund Grants received as a beneficiary 759,547
Health Resource Advocate Grants received as a beneficiary 158,854
Adjustments for revenue not received (AL #84.010) ( 56)
Federal revenue per the financial statements $ 6,732,504
Title: Subrecipients
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Romeo Community Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No amounts were provided to subrecipients.
Title: Michigan Department of Education Disclosures
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Romeo Community Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The federal amounts reported on the grant auditor report are in agreement with the schedule of expenditures of
federal awards except for the following difference caused by the timing of cash receipts:
The amounts reported on the recipient entitlement balance report agree with the schedule of expenditures of
federal awards for U.S.D.A. donated food commodities.
Federal Reported on
Assistance Reported on Schedule of
Listing Grant Grantor Auditor Expenditures of
Federal Grantor Program Title Number Number Report Federal Awards Variance
COVID-19 Seamless Summer Option (SSO) Breakfast 2021-22 10.553 221971 $ - $ 28,231 $ (28,231)
National School Lunch Program - After School Snack 2021-22 10.555 221980 - 263 (263)
COVID-19 Seamless Summer Option (SSO) Lunch 2021-22 10.555 221961 - 73,520 ( 73,520)
COVID-19 Elementary and Secondary School Emergency
Relief Funds (ESSER I) 84.425D 203710 - 35,415 ( 35,415