Title: Basis of Accounting
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Ocean Beach School District financial statements. The Ocean Beach School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Ocean Beach School District has not elected to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance. The Ocean Beach School District used either the federal restricted rate of 7.12% , the federal unrestricted rate of 24.27% , a rate that was a smaller percentage than the federal restricted/unrestricted rate but did not exceed the maximum allowed for the category or the district chose to not take indirect rates on this grant.
The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Ocean Beach School District financial statements. The Ocean Beach School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
Title: Federal De Minimus Indirect Rate
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Ocean Beach School District financial statements. The Ocean Beach School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Ocean Beach School District has not elected to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance. The Ocean Beach School District used either the federal restricted rate of 7.12% , the federal unrestricted rate of 24.27% , a rate that was a smaller percentage than the federal restricted/unrestricted rate but did not exceed the maximum allowed for the category or the district chose to not take indirect rates on this grant.
The Ocean Beach School District has not elected to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance. The Ocean Beach School District used either the federal restricted rate of 7.12% , the federal unrestricted rate of 24.27% , a rate that was a smaller percentage than the federal restricted/unrestricted rate but did not exceed the maximum allowed for the category or the district chose to not take indirect rates on this grant.
Title: Program Costs / Matching Contributions
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Ocean Beach School District financial statements. The Ocean Beach School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Ocean Beach School District has not elected to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance. The Ocean Beach School District used either the federal restricted rate of 7.12% , the federal unrestricted rate of 24.27% , a rate that was a smaller percentage than the federal restricted/unrestricted rate but did not exceed the maximum allowed for the category or the district chose to not take indirect rates on this grant.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the Ocean Beach School District’s local matching share, may be more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Noncash Awards - Food commodities
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Ocean Beach School District financial statements. The Ocean Beach School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Ocean Beach School District has not elected to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance. The Ocean Beach School District used either the federal restricted rate of 7.12% , the federal unrestricted rate of 24.27% , a rate that was a smaller percentage than the federal restricted/unrestricted rate but did not exceed the maximum allowed for the category or the district chose to not take indirect rates on this grant.
The amount of food commodities reported on the schedule is the value of the commodities distributed by the Ocean Beach School District during the current year and priced as prescribed by USDA.
Title: Schoolwide Programs
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Ocean Beach School District financial statements. The Ocean Beach School District uses the modified accrual basis of accounting. Expenditures represent only the federally funded portions of the program. District records should be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The Ocean Beach School District has not elected to use the 10-percent de Minimis indirect cost rate allowed under the Uniform Guidance. The Ocean Beach School District used either the federal restricted rate of 7.12% , the federal unrestricted rate of 24.27% , a rate that was a smaller percentage than the federal restricted/unrestricted rate but did not exceed the maximum allowed for the category or the district chose to not take indirect rates on this grant.
The Ocean Beach School District operates a “schoolwide program” in two elementary buildings and one middle school building . Using federal funding, schoolwide programs are designed to upgrade an entire educational program within a school for all students, rather than limit services to certain targeted students. The following federal program amounts were expended by the Ocean Beach School District in its schoolwide programs: Title I (84.010) $402,964.74 ; Title 1 Comprehensive (84.010) $75,730.81 ; Title I Targetted (84.010)$29,326.31.