Title: 1. BASIS OF PRESENTATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal grant activity of the Board of Control for Southern Regional Education (the Board) under
programs of the federal government for the year ended June 30, 2023, and is presented on the
accrual basis of accounting. The information in this Schedule is presented in accordance with
the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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
the Board, it is not intended to, and does not, present the financial position, changes in net
assets, or cash flows of the Board.
De Minimis Rate Used: N
Rate Explanation: The Board uses a negotiated indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal grant activity of the Board of Control for Southern Regional Education (the Board) under
programs of the federal government for the year ended June 30, 2023, and is presented on the
accrual basis of accounting. The information in this Schedule is presented in accordance with
the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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
the Board, it is not intended to, and does not, present the financial position, changes in net
assets, or cash flows of the Board.
Title: 2. INDIRECT COST RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal grant activity of the Board of Control for Southern Regional Education (the Board) under
programs of the federal government for the year ended June 30, 2023, and is presented on the
accrual basis of accounting. The information in this Schedule is presented in accordance with
the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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
the Board, it is not intended to, and does not, present the financial position, changes in net
assets, or cash flows of the Board.
De Minimis Rate Used: N
Rate Explanation: The Board uses a negotiated indirect cost rate.
The Board has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
Title: 3. SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal grant activity of the Board of Control for Southern Regional Education (the Board) under
programs of the federal government for the year ended June 30, 2023, and is presented on the
accrual basis of accounting. The information in this Schedule is presented in accordance with
the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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
the Board, it is not intended to, and does not, present the financial position, changes in net
assets, or cash flows of the Board.
De Minimis Rate Used: N
Rate Explanation: The Board uses a negotiated indirect cost rate.
There were no expenditures to subrecipients during the year ended June 30, 2023.