Title: BASIS OF PRESENATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of the Oyster River Cooperative School District (the District) under programs of the
federal government for the year ended June 30, 2023. The information in the 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 (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial
position or changes in net position of the District.
Expenditures reported on 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 to
reimbursement.
The amounts reported for the National School Lunch Program – Non-Cash Assistance
represent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Oyster River Cooperative School District (the District) under programs of the federal government for the year ended June 30, 2023. The information in the 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position or changes in net position.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of the Oyster River Cooperative School District (the District) under programs of the
federal government for the year ended June 30, 2023. The information in the 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 (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial
position or changes in net position of the District.
Expenditures reported on 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 to
reimbursement.
The amounts reported for the National School Lunch Program – Non-Cash Assistance
represent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance
Expenditures reported on 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 to reimbursement.
The amounts reported for the National School Lunch Program – Non-Cash Assistance represent the fair value of commodities received.
Title: DE MINIMIS COST ATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of the Oyster River Cooperative School District (the District) under programs of the
federal government for the year ended June 30, 2023. The information in the 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 (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial
position or changes in net position of the District.
Expenditures reported on 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 to
reimbursement.
The amounts reported for the National School Lunch Program – Non-Cash Assistance
represent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance
The District has elected to not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: DONATED PERSONAL PROTECTIVE EQUIPMENT (PPE) (UNAUDITED)
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of the Oyster River Cooperative School District (the District) under programs of the
federal government for the year ended June 30, 2023. The information in the 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 (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial
position or changes in net position of the District.
Expenditures reported on 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 to
reimbursement.
The amounts reported for the National School Lunch Program – Non-Cash Assistance
represent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance
During fiscal year 2023, the District received no donated PPE from federal sources.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of the Oyster River Cooperative School District (the District) under programs of the
federal government for the year ended June 30, 2023. The information in the 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 (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial
position or changes in net position of the District.
Expenditures reported on 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 to
reimbursement.
The amounts reported for the National School Lunch Program – Non-Cash Assistance
represent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The District did not use the 10‐percent de minimis indirect cost rate as allowed under the
Uniform Guidance
Of the federal expenditures presented in the Schedule, the District did not provide federal
awards to subrecipients.