Audit 301269

Title: Note 3: Federal Loans Accounting Policies: A. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of Fort Wayne Community Schools under programs of the federal government for the year ended June 30, 2023. The accompanying notes are an integral part of this Schedule. 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 Fort Wayne Community Schools, it is not intended to and does not present the financial position, changes in net position or cash flows of Fort Wayne Community Schools. B. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. For reimbursement grants passed through the State of Indiana, in accordance with Uniform Guidance, the award is deemed to be expended when evidence of approval is received from the State. For direct awards, in accordance with Uniform Guidance, the award is deemed to be expended when the cash is disbursed. De Minimis Rate Used: N Rate Explanation: Fort Wayne Community Schools has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. Fort Wayne Community Schools had no federal loans that they were administering as of June 30, 2023.