Title: BASIS OF PRESENTATION
Accounting Policies: MODIFIED ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis indirect rate allowed.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of Federal award programs administered by the District, which is described in Note 1 to the District’s accompanying financial statements, using the modified accrual basis of accounting. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the District financial statements. Federal awards that are included in the Schedule may be received directly from Federal agencies, as well as Federal awards that are passed through from other government agencies. The information presented in the Schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Costs Principles and Audit Requirements (Uniform Guidance).
Title: BASIS OF ACCOUNTN
Accounting Policies: MODIFIED ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis indirect rate allowed.
The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. The information 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the financial statements.
Title: INDIRECT COST RATE
Accounting Policies: MODIFIED ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis indirect rate allowed.
Indirect costs are included in the reported expenditures to the extent they are included in the federal financial reports used as the source for the data presented. The District has not elected to use the 10% de minimus cost rate.
Title: MATCHING COSTS
Accounting Policies: MODIFIED ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis indirect rate allowed.
Matching costs, such as the District’s share of certain program costs, are not included in the reported expenditures.
Title: NON-MONETARY FEDERAL PROGRAM
Accounting Policies: MODIFIED ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis indirect rate allowed.
The District is the recipient of a federal award program that does not result in cash receipts or disbursements termed a “non-monetary program.” During the year ended June 30, 2023, the District received $22,905 worth of commodities under the National School Lunch (ALN #10.555).
Title: SUBRECIPIENTS
Accounting Policies: MODIFIED ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis indirect rate allowed.
No amounts were provided to subrecipients.
Title: OTHER DISCLOSURES
Accounting Policies: MODIFIED ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis indirect rate allowed.
No insurance is carried specifically to cover equipment purchased with any Federal Funds. Any equipment purchased with Federal Funds has only a nominal value and is covered by the District’s casualty insurance policies. There were no loans or loan guarantees outstanding at year end.