Audit 23441

Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIESOrganizationThe accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered by the Gilbertsville -Mount Upton Central School District. The School Districts organization is defined in Note 1 to the School Districts basicfinancial statements.Basis of AccountingThe expenditures in the accompanying schedule are presented on an accrual basis of accounting. The information in thisschedule is presented in accordance with the of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in thisschedule may differ from amounts presented in, or used in the preparation of, the basic financial statementsCluster ProgramsThe following programs are identified by OMB Compliance Supplement to be part of a cluster of programs:U.S. Department of EducationSpecial Education ClusterCFDA #84.027 Special Education - Grants to States (IDEA, Part B)CFDA #84.173 Special Education - Preschool Grants (IDEA Preschool)Child Nutrition ClusterCFDA #10.553 National School Breakfast ProgramCFDA #10.555 National School Lunch ProgramCFDA #10.555 Non-cash Assistance (Food Distribution)Indirect Cost RateThe School District has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.Food DonationNonmonetary assistance is reported in the schedule at fair market value of the food commodities received. At June 30, 2022, theSchool District has food commodities in inventory of $10,244.Donated Personal Protective Equipment (Unaudited)During the emergency period of COVID-19, federal agencies and recipients of federal assistance funds donated personalprotective equipment (PPE) to non-federal entities. In connection with that donation, the recipient must disclose the estimatedvalue of donated PPE, but such amounts are not included in the Schedule of Expenditures of Federal Awards. The School Districtreceived $2,000 of donated PPE during the reporting year. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.