Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Brunswick Central School District (School District), 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 the School District, it is not intended to and does not present the financial position or the respective changes in financial position of the governmental activities, and each major fund of the School District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are presented in conformity with accounting principles generally accepted in the United States and the amounts presented are derived from the School Districts general ledger.
Title: PASS-THROUGH PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Brunswick Central School District (School District), 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 the School District, it is not intended to and does not present the financial position or the respective changes in financial position of the governmental activities, and each major fund of the School District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Where the School District receives funds from a government entity other than the federalgovernment (pass-through), the funds are accumulated based upon the Assistance Listingnumber advised by the pass-through grantor.Identifying numbers, other than the Assistance Listing numbers, which may be assigned bypass-through grantors are not maintained in the School Districts financial managementsystem. The School District has identified certain pass-through identifying numbers andincluded them in the schedule of expenditures of federal awards, as available.
Title: INDIRECT COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Brunswick Central School District (School District), 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 the School District, it is not intended to and does not present the financial position or the respective changes in financial position of the governmental activities, and each major fund of the School District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Indirect costs are included in the reported expenditures to the extent they are included in thefinancial reports used as the source for the expenditures presented.The School District did not elect to use the 10 percent de-minimis indirect cost rate as allowedunder the Uniform Guidance.
Title: MATCHING COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Brunswick Central School District (School District), 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 the School District, it is not intended to and does not present the financial position or the respective changes in financial position of the governmental activities, and each major fund of the School District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching costs, i.e. the School Districts or States share of certain program costs, are not included in the reported expenditures.
Title: NON-MONETARY FEDERAL PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of the Brunswick Central School District (School District), 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 the School District, it is not intended to and does not present the financial position or the respective changes in financial position of the governmental activities, and each major fund of the School District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The School District is the recipient of a federal financial award program that does not result in cash receipts or disbursements termed a non-monetary program. During the year ended June 30, 2022, the School District received food commodities, the fair value of which amounted to $51,695 and is presented in the Schedule as National School Lunch Program (Division of Donated Foods, Assistance Listing #10.555).