Title: Matching Costs
Accounting Policies: The Schedule is presented using generally accepted accounting principles, as described in the School Districts basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Matching costs, i.e., the School Districts share of certain program costs, are not included in the reported expenditures.
Title: Subrecipients
Accounting Policies: The Schedule is presented using generally accepted accounting principles, as described in the School Districts basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No amounts were provided to subrecipients.
Title: Nonmonetary Assistance
Accounting Policies: The Schedule is presented using generally accepted accounting principles, as described in the School Districts basic financial statements.
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 $30,132 is presented in the Schedule as National School Lunch Program (Assistance Listing No. 10.555).
Title: Pass-Through Programs
Accounting Policies: The Schedule is presented using generally accepted accounting principles, as described in the School Districts basic financial statements.
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 advertised by the pass-through grantor.Identifying numbers, other than Assistance Listing numbers, which may be assigned by passthrough grantors are not maintained in the School Districts financial management system. The School District has identified certain pass-through identifying numbers and includes them in the schedule of expenditures of federal award, as available.
Title: Indirect Costs
Accounting Policies: The Schedule is presented using generally accepted accounting principles, as described in the School Districts basic financial statements.
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 the financial 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 allowed under the Uniform Guidance.
Title: Basis of Presentation
Accounting Policies: The Schedule is presented using generally accepted accounting principles, as described in the School Districts basic financial statements.
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 (the Schedule) includes thefederal grant activity of the Schodack Central School District (the School District), under programs of the federal government for the year ended June 30, 2022. The information in the 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 the School District, it is not intended to and does not present the financial position, changes in net position, or cash flows for the School District.