Audit 22312

Title: Basis of Accounting Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Westminster Public schools under programs of the federal government for the year ended June 30, 2022. 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). Because the schedule presents only a selected portion of the operations of Westminster Public Schools, it is not intended to and does not present the financial position, changes in net assets or cash flows of Westminster Public Schools De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance or other applicable regulatory guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Westminster Public Schools has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.

Title: Commodities Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Westminster Public schools under programs of the federal government for the year ended June 30, 2022. 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). Because the schedule presents only a selected portion of the operations of Westminster Public Schools, it is not intended to and does not present the financial position, changes in net assets or cash flows of Westminster Public Schools De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. Westminster Public Schools receive food commodities from the U.S. Department of Agriculture for use in its food service program. The commodities are recognized as revenue when received and are recorded based on the USDAs Donated Commodity Price List. These are shown as part of the National School Lunch Program (10.555) on the Schedule. Westminster Public Schools recognized noncash awards of $346,989 for the year ended June 30, 2022.