Title: Scope of Audit
Accounting Policies: Accounting policies and financial reporting practices permitted for municipalities in Massachusetts are prescribed by the Uniform Municipal Accounting Sysytem (UMAS) promulgated by the Commonwealth of Massachusetts Department of Revenue. The significant accoounting policies followed by the District are as follows: Basis of presentation: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant transactions of the District during the year ended June 30, 2023. The information on this 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) for audits of state and local governments. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the general-purpose financial statements. Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financila position, changes in fund balances, or cash flows of the District. Accounting Methods: The receipts and proceeds from federal grants are recorded on a modified accrual basis of accounting. The modified accrual basis of accounting recognizes revenues in the accounting period in which they become both measurable and available and it recognizes expenditures in the accounting period in which the fund liability is incurred, if measurable. "Measurable" means the amount of the transaction can be determined.
De Minimis Rate Used: N
Rate Explanation: Administrative expenses are allocated to programs based on each program’s portion of total direct costs
using the modified direct method approved by the Commonwealth of Massachusetts.
The Upper Cape Cod Regional Vocational Technical School District (hereinafter "District") is a governmental agency established by the laws of the Commonwealth of Massachusetts. All operations related to the District's federal grant programs are included in the scope 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) for audits of state and local governments (hereinafter "the Single Audit"). The United States Department of Education has been designated as the District's oversight agency for the single audit. Compliance testing was performed, as described in the Compliance Supplement, in conjunction with consideration of the internal control over compliance with the requirements of laws, regulations, contracts, and grants relative to the District's grant programs. Type A programs are defined as federal programs with federal awards expended during the audit period exceeding the larger of $750,000 or three percent (3%) of the total federal awards expended. Federal programs not labeled Type A are labeled Type B programs. For the fiscal year ended June 30, 2023, the Education Stabilization Fund was tested as a major federal program. Specifically, compliance testing and tests of controls were performed for the Following award programs which were tested as major federal awards. Aggregate federal financial assistance expenditures subject to testing for the year ended June 30, 2023 were $880,903. The expenditures subject to specific testing, therefore, represent approximately fifty-four percent (54%) of total federal expenditures. See the Notes to the SEFA for chart/table.
Title: Period Audited
Accounting Policies: Accounting policies and financial reporting practices permitted for municipalities in Massachusetts are prescribed by the Uniform Municipal Accounting Sysytem (UMAS) promulgated by the Commonwealth of Massachusetts Department of Revenue. The significant accoounting policies followed by the District are as follows: Basis of presentation: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant transactions of the District during the year ended June 30, 2023. The information on this 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) for audits of state and local governments. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the general-purpose financial statements. Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financila position, changes in fund balances, or cash flows of the District. Accounting Methods: The receipts and proceeds from federal grants are recorded on a modified accrual basis of accounting. The modified accrual basis of accounting recognizes revenues in the accounting period in which they become both measurable and available and it recognizes expenditures in the accounting period in which the fund liability is incurred, if measurable. "Measurable" means the amount of the transaction can be determined.
De Minimis Rate Used: N
Rate Explanation: Administrative expenses are allocated to programs based on each program’s portion of total direct costs
using the modified direct method approved by the Commonwealth of Massachusetts.
Single audit testing procedures were performed for the District's major federal award transactions during the year ended June 30, 2023.
Title: Program Clusters
Accounting Policies: Accounting policies and financial reporting practices permitted for municipalities in Massachusetts are prescribed by the Uniform Municipal Accounting Sysytem (UMAS) promulgated by the Commonwealth of Massachusetts Department of Revenue. The significant accoounting policies followed by the District are as follows: Basis of presentation: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant transactions of the District during the year ended June 30, 2023. The information on this 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) for audits of state and local governments. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the general-purpose financial statements. Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financila position, changes in fund balances, or cash flows of the District. Accounting Methods: The receipts and proceeds from federal grants are recorded on a modified accrual basis of accounting. The modified accrual basis of accounting recognizes revenues in the accounting period in which they become both measurable and available and it recognizes expenditures in the accounting period in which the fund liability is incurred, if measurable. "Measurable" means the amount of the transaction can be determined.
De Minimis Rate Used: N
Rate Explanation: Administrative expenses are allocated to programs based on each program’s portion of total direct costs
using the modified direct method approved by the Commonwealth of Massachusetts.
The selection of major federal programs provides consideration to the U.S. Department of Education Student Financial Assistance (SFA) Cluster (CFDA No. 84.063, Federal Pell Grant Program and CFDA No. 84.268, Federal Direct Student Loans); the Special Education (IDEA) Cluster (CFDA No. 84.027, Special Education Grants to States); and the Child Nutrition Cluster (CFDA No. 10.555, National School Lunch Program).
Title: Loan Programs
Accounting Policies: Accounting policies and financial reporting practices permitted for municipalities in Massachusetts are prescribed by the Uniform Municipal Accounting Sysytem (UMAS) promulgated by the Commonwealth of Massachusetts Department of Revenue. The significant accoounting policies followed by the District are as follows: Basis of presentation: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant transactions of the District during the year ended June 30, 2023. The information on this 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) for audits of state and local governments. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the general-purpose financial statements. Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financila position, changes in fund balances, or cash flows of the District. Accounting Methods: The receipts and proceeds from federal grants are recorded on a modified accrual basis of accounting. The modified accrual basis of accounting recognizes revenues in the accounting period in which they become both measurable and available and it recognizes expenditures in the accounting period in which the fund liability is incurred, if measurable. "Measurable" means the amount of the transaction can be determined.
De Minimis Rate Used: N
Rate Explanation: Administrative expenses are allocated to programs based on each program’s portion of total direct costs
using the modified direct method approved by the Commonwealth of Massachusetts.
The District participates in the Federal Direct Student Loan Program, which provides federal loans directly to students rather than through private lending institutions. The District is responsible only for the origination of the loan (e.g., determining student eligibility and disbursing loan proceeds to the borrower). The Direct Loan Servicer is then responsible for the overall servicing and collection of the loan. Accordingly, these loans are not included in the District's financial statements. The amount reported on the Schedule of Expenditures of Federal Awards for the loan program represents the total value of the loans awarded and paid to the District's students during the year ended June 30, 2023.