Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: Note B Summary of Significant Accounting PoliciesGovernmental fund types account for the Districts federal grant activity included in the general and federal projects funds. Therefore, expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis when they become a demand on current available financial resources. Such expenditures 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.Proprietary fund types account for the Districts federal grant activity included in the food service fund. Such expenditures are recognized on the accrual basis when a liability is incurred. The Districts summary of significant accounting policies is presented in Note 1 in the Districts basic financial statements.No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Clark County School District (the District) under programs of the federal government for the year ended June 30, 2022. The information 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 the District, it is not intended to and does not present the financial position or changes in net position of the District and fund balance.
Title: Note C - Indirect Cost Rate
Accounting Policies: Note B Summary of Significant Accounting PoliciesGovernmental fund types account for the Districts federal grant activity included in the general and federal projects funds. Therefore, expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis when they become a demand on current available financial resources. Such expenditures 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.Proprietary fund types account for the Districts federal grant activity included in the food service fund. Such expenditures are recognized on the accrual basis when a liability is incurred. The Districts summary of significant accounting policies is presented in Note 1 in the Districts basic financial statements.No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Clark County School District has not elected to use the 10% De Minimis indirect cost rate.
Title: Note D - Relationship to Basic Financial Statements
Accounting Policies: Note B Summary of Significant Accounting PoliciesGovernmental fund types account for the Districts federal grant activity included in the general and federal projects funds. Therefore, expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis when they become a demand on current available financial resources. Such expenditures 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.Proprietary fund types account for the Districts federal grant activity included in the food service fund. Such expenditures are recognized on the accrual basis when a liability is incurred. The Districts summary of significant accounting policies is presented in Note 1 in the Districts basic financial statements.No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures of federal awards have been included in the individual funds of the District as follows: General Fund $205,343 Major Fund - Federal Projects 589,584,854 Enterprise Fund - Food Service 186,339,511 Total $776,129,708
Title: Note E - Food Donation
Accounting Policies: Note B Summary of Significant Accounting PoliciesGovernmental fund types account for the Districts federal grant activity included in the general and federal projects funds. Therefore, expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis when they become a demand on current available financial resources. Such expenditures 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.Proprietary fund types account for the Districts federal grant activity included in the food service fund. Such expenditures are recognized on the accrual basis when a liability is incurred. The Districts summary of significant accounting policies is presented in Note 1 in the Districts basic financial statements.No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in this schedule at the fair market value of the commodities received and disbursed. The amounts shown as expenditures of the National School Lunch Program Commodities program represent the fair value of commodity food received by the District. At June 30, 2022, the District had food commodities totaling $5,916,473 in inventory.