Notes to SEFA
Title: FOOD DONATION PROGRAM
Accounting Policies: A. Reporting Entity - The accompanying schedule includes all federal awardsprograms of Lake Region Elementary-Middle School District for the fiscal yearended June 30, 2022. The reporting entity is defined in Notes to FinancialStatements.B. Basis of Presentation - The information in the accompanying Schedule ofExpenditures of Federal Awards is presented in accordance with UniformGuidance.C. Basis of Accounting - Expenditures reported on the Schedule are reported on theaccrual basis of accounting. Such expenditures are recognized following thecost principles contained in the Uniform Guidance and/or OMB Circular A-87,Cost Principles for State, Local and Indian Tribal Governments, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Lake Region Elementary-Middle School District reports commodities received onthe Schedule at the fair value (or entitlement value). The Government allocateddonated food commodities to the respective programs that benefited from the use ofthose donated commodities.