Title: Note 1 - General
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee uses the indirect cost rate calculated by the Missouri Department of Elementary and Secondary Education from district data on the Annual Secretary of the Board Report.
The accompanying Schedule of Expenditures of federal awards presents the activity of all federal awards programs of the South Harrison R-II School District, Bethany, Missouri. The reporting entity is defined in Note 1 to the district's financial statements.
Title: Note 2 - Basis of Accounting
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee uses the indirect cost rate calculated by the Missouri Department of Elementary and Secondary Education from district data on the Annual Secretary of the Board Report.
The accompanying schedule is presented using the modified cash basis of accounting, which is described in Note 1 to the district's financial statements.
Title: Note 3 - Relationship to Federal Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee uses the indirect cost rate calculated by the Missouri Department of Elementary and Secondary Education from district data on the Annual Secretary of the Board Report.
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports and indicate amounts due to the district as of June 30, 2023 from each related federal program.
Title: Note 4 - Noncash Programs
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee uses the indirect cost rate calculated by the Missouri Department of Elementary and Secondary Education from district data on the Annual Secretary of the Board Report.
The commodities received, which are noncash revenues, are valued using prices provided by the United States Department of Agriculture. At June 30, 2023, the district had food commodities totaling $0 in inventory.
Title: Note 5 - Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee uses the indirect cost rate calculated by the Missouri Department of Elementary and Secondary Education from district data on the Annual Secretary of the Board Report.
The District has elected not to use the 10% de minimis indirect cost rate.
Title: Note 6 - Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee uses the indirect cost rate calculated by the Missouri Department of Elementary and Secondary Education from district data on the Annual Secretary of the Board Report.
The District did not provide funds to subreceipients during the year.