Notes to SEFA
Title: Passed Through Awards
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lower Kuskokwim 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 Lower Kuskokwim School District, it is not intended to and does not present the basic financial statements of Lower Kuskokwim School District. Expenditures reported on 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Lower Kuskokwim School District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No amounts were passed through to subrecipients.
Title: Non-monetary Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lower Kuskokwim 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 Lower Kuskokwim School District, it is not intended to and does not present the basic financial statements of Lower Kuskokwim School District. Expenditures reported on 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Lower Kuskokwim School District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Non-monetary assistance is reported in the schedule at fair market value of commodities received and disbursed. For the year ended June 30, 2022, the District received $250,481 in commodities.
Title: Total Award and Expenditures for ALN 84.365
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lower Kuskokwim 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 Lower Kuskokwim School District, it is not intended to and does not present the basic financial statements of Lower Kuskokwim School District. Expenditures reported on 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Lower Kuskokwim School District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Lower Kuskokwim School District received an award of $208,571 directly from the U.S. Department of Education of which it had expenditures totaling $202,570. Lower Kuskokwim School District also received awards totaling $509,219 which was passed through from the State of Alaska, Department of Education and Early Development and had expenditures totaling $279,295. The total award and expenditures for ALN 84.365 were $717,790 and $481,865 respectively.