Notes to SEFA
Title: RECONCILE TO SCHEDULE C-1
Accounting Policies: Basis of Presentation:The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal awardactivity of the District under programs of the federal government for the year ended August 31, 2022. Theinformation on this Schedule is prepared in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the District, it is not intended to and does not present the financial position,changes in net assets, or cash flows of the District.Summary of Significant Accounting Policies:The accounting and financial reporting treatment applied to a fund is determined by its measurement focus.The governmental funds are accounted for using a current-financial-resources measurement focus. Allfederal grant funds are accounted for in the Special Revenue Fund, a component of the governmentalfunds. With this measurement focus, only current assets and current liabilities, generally, are included onthe balance sheet. Operating statements of these funds present increases (i.e., revenues and other financingsources) and decreases (i.e., expenditures and other financing uses) in net current assets. The modifiedaccrualbasis of accounting is used for the governmental funds. This basis of accounting recognizesrevenues in the accounting period in which they become susceptible to accrual (measurable and available)and expenditures in the accounting period in which the fund liability is incurred, except that principal andinterest on general long-term debt are recognized when due. Federal grant funds are considered to beearned when all eligibility requirements have been met. Any excess of revenues or expenditures isrecorded as unearned revenues or accounts receivable, respectively.The disbursement of funds received under federal grant programs generally requires compliance with termsand conditions specified in the grant agreements and is subject to audit by the grantor agencies. Anydisallowed claims resulting from such audits could become a liability of the General Fund. In the opinionof management, such disallowed claims, if any, will not have a material effect on any of the financialstatements of the individual fund types or on the overall financial position of the District at August 31,2022.The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under theUniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal revenues in the accompanying financial statements include federal source revenues which are notconsidered federal assistance for purposes of the Schedule of Expenditures of Federal Awards. Areconciliation follows:Total Federal Expenditure, Exhibit K-1 $968,095School Health and Related Services (SHARS) 22,967Total Federal Revenues, Exhibit C-3 $991,06279