Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 may or may not be allowable or may be limited as to
reimbursement. The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
award activity of Buckeye Local School District (the School District’s) under programs of the federal
government for the year ended June 30, 2023. The information on this Schedule is prepared 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). Because the Schedule presents only a selected portion of the operations of the School District,
it is not intended to and does not present the financial position or changes in net position of the School
District.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 may or may not be allowable or may be limited as to
reimbursement. The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the 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 may or may not be allowable or may be limited as to
reimbursement. The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
Title: NOTE C - CHILD NUTRITION CLUSTER
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 may or may not be allowable or may be limited as to
reimbursement. The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
The School District commingles cash receipts from the U.S. Department of Agriculture with similar State
grants. When reporting expenditures on this Schedule, the School District assumes it expends federal
monies first.
Title: NOTE D – FOOD DONATION PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 may or may not be allowable or may be limited as to
reimbursement. The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
The School District reports commodities consumed on the Schedule at the entitlement value. The School
District allocated donated food commodities to the respective programs that benefitted from the use of
those donated food commodities.
Title: NOTE E – TRANSFERS BETWEEN PROGRAM YEARS
Accounting Policies: Expenditures reported on the Schedule are reported on the 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 may or may not be allowable or may be limited as to
reimbursement. The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
Federal regulations require schools to obligate certain federal awards by June 30. However, with ODE’s
consent, schools can transfer unobligated amounts to subsequent fiscal year’s program. The School District
transferred the following amounts from 2022 to 2023 programs: