Notes to SEFA
Title: Note 3 -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity ofthe Unified School District No. 495, Larned, Kansas (the District) under programs of the federal government for theyear ended June 30, 2022. The information in the Schedule is presented on the Kansas regulatory basis of accountingas described in Note 1 to the financial statement and includes cash receipts, disbursements and encumbrances. Theinformation in this Schedule is also presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Therefore, some amounts presented in this Schedule may differ from amounts presentedin, or used in the preparation of the basic financial statement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures in the Schedule 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.
Title: Note 4 - SCHOOLWIDE PROGRAMS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity ofthe Unified School District No. 495, Larned, Kansas (the District) under programs of the federal government for theyear ended June 30, 2022. The information in the Schedule is presented on the Kansas regulatory basis of accountingas described in Note 1 to the financial statement and includes cash receipts, disbursements and encumbrances. Theinformation in this Schedule is also presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Therefore, some amounts presented in this Schedule may differ from amounts presentedin, or used in the preparation of the basic financial statement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District operates a "schoolwide program" in one elementary building. Using federal funding, schoolwide programs are designed to upgrade an entire educational program within a school for all students, rather than limit services to certain targeted students. The following federal program amounts were expended by the District in itsschoolwide program: Title I (84.010) $162,682 and Student Support and Academic Enrichment Program (84.424) $17,817.