Audit 30515

Accounting Policies: Note 1 - Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes federal award activity of Charleroi Area School District (the School District) under programs of the federal government for the year ended June 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 Charleroi Area School District,Charler it is not intended to and does not present the financial position, changes in net position, or cash flows of Charleroi Area School District. Note 2 - Summary of Significant Accounting Policies - (1)Expenditures reported on the Schedule are reported on the 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 shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.(2)Pass-through entity identifying numbers are presented where available. Note 3 - Food Distribution - Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed. At June 30, 2022, the District had food commodities totaling $13,139 in inventory. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.