Title: Note 1 - Basis of Presentation
Accounting Policies: Note 1 – Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Haleyville City Board of Education under programs of the federal government for the year ended September 30, 2022. 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 the Haleyville City Board of Education, it is not intended to and does not present the financial position, changes in net position or cash flows of the Haleyville City Board of Education. Note 2 – Summary of Significant Accounting Policies - 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 as to reimbursement. Negative amounts show on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Note 3 – Non-Cash Awards - The Haleyville City Board of Education is the recipient of certain non-cash assistance in the form of donated commodities received from the U.S. Department of Agriculture. Revenues and expenditures are recorded for the value of commodities received. In addition, the Haleyville City Board of Education may receive certain other non-cash assistance from federal and state awarding agencies. The amount of non-cash assistance received at September 30, 2022 was Note 4 – Indirect Cost Rate - The Haleyville City Board of Education has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The district used the calculated restricted and unrestricted indirect cost rates approved by the Alabama State Department of Education.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Haleyville City Board of Education under programs of the federal government for the year ended September 30, 2022. 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 the Haleyville City Board of Education, it is not intended to and does not present the financial position, changes in net position or cash flows of the Haleyville City Board of Education.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Note 1 – Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Haleyville City Board of Education under programs of the federal government for the year ended September 30, 2022. 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 the Haleyville City Board of Education, it is not intended to and does not present the financial position, changes in net position or cash flows of the Haleyville City Board of Education. Note 2 – Summary of Significant Accounting Policies - 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 as to reimbursement. Negative amounts show on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Note 3 – Non-Cash Awards - The Haleyville City Board of Education is the recipient of certain non-cash assistance in the form of donated commodities received from the U.S. Department of Agriculture. Revenues and expenditures are recorded for the value of commodities received. In addition, the Haleyville City Board of Education may receive certain other non-cash assistance from federal and state awarding agencies. The amount of non-cash assistance received at September 30, 2022 was Note 4 – Indirect Cost Rate - The Haleyville City Board of Education has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The district used the calculated restricted and unrestricted indirect cost rates approved by the Alabama State Department of Education.
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 as to
reimbursement. Negative amounts show on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 3 - Non-Cash Awards
Accounting Policies: Note 1 – Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Haleyville City Board of Education under programs of the federal government for the year ended September 30, 2022. 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 the Haleyville City Board of Education, it is not intended to and does not present the financial position, changes in net position or cash flows of the Haleyville City Board of Education. Note 2 – Summary of Significant Accounting Policies - 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 as to reimbursement. Negative amounts show on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Note 3 – Non-Cash Awards - The Haleyville City Board of Education is the recipient of certain non-cash assistance in the form of donated commodities received from the U.S. Department of Agriculture. Revenues and expenditures are recorded for the value of commodities received. In addition, the Haleyville City Board of Education may receive certain other non-cash assistance from federal and state awarding agencies. The amount of non-cash assistance received at September 30, 2022 was Note 4 – Indirect Cost Rate - The Haleyville City Board of Education has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The district used the calculated restricted and unrestricted indirect cost rates approved by the Alabama State Department of Education.
The Haleyville City Board of Education is the recipient of certain non-cash assistance in the form of donated commodities received from the U.S. Department of Agriculture. Revenues and expenditures are recorded for the value of commodities received. In addition, the Haleyville City Board of Education may receive certain other non-cash assistance from federal and state awarding agencies. The amount of non-cash assistance received at September 30, 2022 was $108,030.
Title: Note 4 - Indirect Cost Rate
Accounting Policies: Note 1 – Basis of Presentation - The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Haleyville City Board of Education under programs of the federal government for the year ended September 30, 2022. 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 the Haleyville City Board of Education, it is not intended to and does not present the financial position, changes in net position or cash flows of the Haleyville City Board of Education. Note 2 – Summary of Significant Accounting Policies - 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 as to reimbursement. Negative amounts show on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Note 3 – Non-Cash Awards - The Haleyville City Board of Education is the recipient of certain non-cash assistance in the form of donated commodities received from the U.S. Department of Agriculture. Revenues and expenditures are recorded for the value of commodities received. In addition, the Haleyville City Board of Education may receive certain other non-cash assistance from federal and state awarding agencies. The amount of non-cash assistance received at September 30, 2022 was Note 4 – Indirect Cost Rate - The Haleyville City Board of Education has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The district used the calculated restricted and unrestricted indirect cost rates approved by the Alabama State Department of Education.
The Haleyville City Board of Education has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.