Title: Note A: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather than when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ringling School District I-14 Jefferson County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Ringling School District I-14 Jefferson County, Oklahoma 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 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 Ringling School District I-14 Jefferson County, Oklahoma, it is not intended to and does not present the basic financial statements as listed in the table of contents, of Ringling School District I-14 Jefferson County, Oklahoma.
Title: Note B: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather than when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ringling School District I-14 Jefferson County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather than when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
Title: Note C: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather than when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ringling School District I-14 Jefferson County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Ringling School District I-14 Jefferson County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note D: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather than when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ringling School District I-14 Jefferson County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Ringling School District I-14 Jefferson County, Oklahoma did not have any awards that have been passed through to subrecipients.
Title: Note E: Transfers between Federal Programs
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather than when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ringling School District I-14 Jefferson County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Ringling School District I-14 Jefferson County, Oklahoma received $16,680 from Assistance Number 84.367 Title II, Part A funds and received $10,000 from Assistance Number 84.424A Title IV which were allowed to be transferred to be used for Title I Assistance Number 84.010, and thus were reported above in the Title I revenues to agree with corresponding expenditures.