Audit 21480

Accounting Policies: SIUSLAW SCHOOL DISTRICT NO. 97J, LANE COUNTY, OREGONNOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDSFor the Year Ended June 30, 2022Note 1.Purpose of the Schedule The accompanying schedule of expenditures of federal awards includes the federal grant activity of Siuslaw School District No. 97J for the year ended June 30, 2022. Note 2.Basis of PresentationThe accompany schedule of expenditures of federal awards is presented on the modified accrual basis of accounting as described in Note 1 to the Districts basic financial statements. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.Note 3. SubrecipientsDuring the year ended June 30, 2022, the District did not provide any financial awards to subrecipients.Note 4. De Minimis Cost RateThe District did not elect to use the 10% de minimis indirect cost rate during the 2021-2022 fiscal year.Note 5. Interest SubsidyInterest subsidies related to the Qualified School Construction Bonds are funded through the Hiring Incentives to Restore Employment Act (HIRE) and are listed on the schedule although these amounts go directly to the lender and are not processed through the District. Note 6. Nonmonetary AssistanceThe District is the recipient of federal financial assistance programs that do not result in cash receipts or disbursements and are therefore not recorded in the Districts fund financial statements. Awards received by the District, which include noncash amounts are: De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.