Title: NOTE 2
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The expenditures reported in the Schedule are reported on the modified accrual basis of accounting. 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.
Title: NOTE 4
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The major federal assistance program is listed in the Schedule of Findings and Questioned Costs. Wakefield-Marenisco School District does not qualify as a low risk auditee in accordance with the Uniform Guidance. Major programs, which must exceed 40% of the total federal awards expended, were selected using a risk-based approach based on auditors’ risk assessments. All other federal programs are considered non-major programs.
Title: NOTE 5
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The federal oversite agency for the Wakefield-Marenisco School District is the U.S. Department of Education.
Title: NOTE 6
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The financial reports are in agreement with the financial statements except for the DS4044 Forms, which were not prepared as of October 31, 2023.
Title: NOTE 7
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The amounts reported on the Grant Audit Report reconciles with this schedule
Title: NOTE 8
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The amounts reported on the Recipient Entitlement Balance Report (PAL Report) agree with this schedule for U.S.D.A. donated food commodities.
Title: NOTE 9
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures include spoilage or pilferage
Title: NOTE 10
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The unexpended approved grant awards were carried over and became part of the 2022-2023 approved award or were not used.
Title: NOTE 11
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The unexpended approved amount will be part of the amount carried over and spent as part of the 2023-2024 approved award or will not be used.
Title: NOTE 12
Accounting Policies: Basis of Presentation – The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Wakefield-Marenisco School District under programs of the federal government for the year ended June 30, 2023. 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 portion of the operations of Wakefield-Marenisco School District, it is not intended to and does not present the financial position of Wakefield-Marenisco School District.
De Minimis Rate Used: N
Rate Explanation: Wakefield-Marenisco School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Child Nutrition Cluster activities are reported in the Special Revenue Fund – Food Services and the remaining federal funds are reported in the General Fund.