Notes to SEFA
Title: Risk Based Audit Approach
Accounting Policies: The Neshaminy School District (the District) as the reporting entity for financial reporting purposes is defined in Note 1B to the Districts basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the Districts reporting entity is the same that was used for financial reporting. The Schedule of Expenditures of Federal Awards included the grant activity of the School District and is presented using the modified accrual basis of accounting, which is described in Note 1D to the Districts basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The 2022 threshold for determining Type A and Type B Programs is $750,000. The District had 4 Type A Programs. The following Type A programs were audited as major:Title I ALN #84.010Education Stabilization Fund ALN #84.425IDEA Cluster ALN #84.173 and 84.027The following Type B Program was audited as major in 2022 in order to provide adequateaudit coverage:Title II ALN #84.367The amount expended under programs audited as major federal programs for the yearended June 30, 2022 totaled $4,009,268 or 41.3% of total federal awards expended.
Title: Medical Assistance
Accounting Policies: The Neshaminy School District (the District) as the reporting entity for financial reporting purposes is defined in Note 1B to the Districts basic financial statements. For purposes of preparing the Schedule of Expenditures of Federal Awards, the Districts reporting entity is the same that was used for financial reporting. The Schedule of Expenditures of Federal Awards included the grant activity of the School District and is presented using the modified accrual basis of accounting, which is described in Note 1D to the Districts basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Access reimbursement received under ALN #93.778, Revenue Code 8810 are classifiedas fee-for-service revenues and are not recognized as federal awards for the purpose ofreporting on the Schedule of Expenditures of Federal Awards.