Audit 2579

Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered by the Port Washington Union Free 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 selected portion of the operations of Port Washington Union Free School District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Port Washington Union Free School District. Basis of Accounting The expenditures in the accompanying schedule are presented on an 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Cluster Programs The following programs are identified by “OMB Compliance Supplement” to be part of a cluster of programs: U.S. Department of Education Special Education Cluster ALN 84.027 Special Education - Grants to States (IDEA, Part B) ALN 84.173 Special Education - Preschool Grants (IDEA Preschool) ALN 84.027X COVID-19 Special Education Grants to States ALN 84.173X COVID-19 Special Education Preschool U.S. Department of Agriculture Child Nutrition Cluster ALN 10.553 National School Breakfast Program ALN 10.555 National School Lunch Program ALN 10.555 Non-cash Assistance (Food Distribution) De Minimis Indirect Cost Rate Port Washington Union Free School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Food Donation Nonmonetary assistance is reported in the schedule at fair market value of the food commodities received. At June 30, 2023, the School District has food commodities in inventory of $1,346. De Minimis Rate Used: N Rate Explanation: De Minimis Indirect Cost Rate Port Washington Union Free School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.