Title: General
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. Awards are presented using the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The ifnormation in the schedule is presented in accordance witht he 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Academy ISD has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of Academy Independent School District. The District's reporting entity is defined in Note 1 of the basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.
Title: Basis of Accounting
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. Awards are presented using the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The ifnormation in the schedule is presented in accordance witht he 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Academy ISD has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. Awards are presented using the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Pass-Through Expenditures
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. Awards are presented using the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The ifnormation in the schedule is presented in accordance witht he 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Academy ISD has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
None of the federal programs expended by the District were provided to sub-recipients.
Title: Indirect Costs
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting. Awards are presented using the modified accrual basis of accounting, are presented in Note 1 of the basic financial statements. The ifnormation in the schedule is presented in accordance witht he 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). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Academy ISD has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The District did not elect to apply the 10% de minimis indirect cost rate.