Title: NOTE 3 CLASSIFICATION OF FEDERAL AWARDS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Midtown Primary School (School) under programs of the federal government for the year ended June 30, 2022 and is presented on the accrual basis of accounting. 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 Principals, and Audit Requirements for Federal Audits (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on in this schedule are reported on the accrual basis of accounting, and 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. Midtown Primary School has elected not to use the ten (10%) percent de minimis indirect cost rate as allowed under the Uniform Guidance. The auditee did not use the de minimis cost rate.
In accordance with the Uniform Guidance, because total federal expenditures were at least $750,000, but less than $25,000,000, Type A programs are all programs with expenditures equal to or greater than $750,000. Major programs were determined using a risk-based approach.
Title: NOTE 4 CATALOG OF FEDERAL ASSISTANCE LISTING (FAL) NUMBERS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Midtown Primary School (School) under programs of the federal government for the year ended June 30, 2022 and is presented on the accrual basis of accounting. 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 Principals, and Audit Requirements for Federal Audits (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on in this schedule are reported on the accrual basis of accounting, and 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. Midtown Primary School has elected not to use the ten (10%) percent de minimis indirect cost rate as allowed under the Uniform Guidance. The auditee did not use the de minimis cost rate.
The program titles and FAL numbers were obtained from the federal or pass-through grantor or 2022 Federal Assistance Listing. When no FAL numbers had been assigned to a program, the two-digit federal agency identifier and the federal contract number were used. When there was no federal contract number, the two-digit federal agency identifier and the word unknown were used.
Title: NOTE 5 SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Midtown Primary School (School) under programs of the federal government for the year ended June 30, 2022 and is presented on the accrual basis of accounting. 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 Principals, and Audit Requirements for Federal Audits (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on in this schedule are reported on the accrual basis of accounting, and 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. Midtown Primary School has elected not to use the ten (10%) percent de minimis indirect cost rate as allowed under the Uniform Guidance. The auditee did not use the de minimis cost rate.
Midtown Primary School did not pass any funds on to subrecipients during the year ended June 30, 2022.