Audit 296274

Title: Basis of Presentation Accounting Policies: Expenditures in the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: Union City Board of Education has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance The accompanying schedule of expenditures of federal awards includes the federal award activity of Union City Board of Education under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of U.S. Code of Federal Regulations, Title 2, Part 200, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Board of Education, it is not intended to, and does not, present the financial position or changes in financial position of Union City Board of Education.

Title: Food Distribution Accounting Policies: Expenditures in the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: Union City Board of Education has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.