Title: Note 1 - Basis of Accounting
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Riverside Beaver County School District 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The district did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Riverside Beaver County School District 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note 2 - Budgetary Data
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Riverside Beaver County School District 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The district did not use the de minimis cost rate.
The District passed and had approved by the appropriate agency budgets for the fiscal year ending June 30, 2023 for all federal programs.
Title: Note 3 - De Minimus Rate for Indirect Costs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Riverside Beaver County School District 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The district did not use the de minimis cost rate.
Riverside Beaver County School District has elected to not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 4 - Prior Period Corrections
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Riverside Beaver County School District 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The district did not use the de minimis cost rate.
The District made the following corrections to prior Schedules of Expenditures of Federal Awards: The corrections made to the Schedules of Expenditures of Federal Awards for the 2019-2020 and 2020-2021 fiscal years have been reviewed, and it has been determined that they do not materially impact the financial statements or the compliance of the School District with the terms and conditions of the federal awards.