Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal and State awards (SEFSA) includes the federal and State grant activityof the Kannapolis City Schools under programs of the federal government and the State of North Carolina for the year end June 30,2022. The information in this SEFSA is presented in accordance with the requirements of Title 2 US Code of Federal RegulationsPart 200, Uniform Administrative Requirements, cost Principles, and Audit Requirements for Federal Awards and the StateSingle Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of Kannapolis CitySchools, it is not intended Federal Awards (Uniform Compliance) and the State Single Audit to and does not present thefinancial position, changes in net assets or cash flows of Kannapolis City Schools.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.