Title: Basis of Presentation
Accounting Policies: A. Summary of Significant Accounting Policies
Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Linden City Board of Education under programs of the federal government for the year ended September 30, 2023. 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 Linden City Board of Education, it is not intended to and does not present the financial position or changes in net position of the Linden City Board of Education.
Basis of Accounting
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 allowed or are limited as to reimbursement.
Indirect Cost Rate
The Linden City Board of Education did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance; instead, the Board is using an indirect cost rate approved by the State of Alabama Department of Education.
Non-Cash Assistance
The Board 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, which was $33,491 for the year ended September 30, 2023, and is included Assistance Listing Number 10.555, National School Lunch Program, in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Linden City Board of Education did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance; instead, the Board is using an indirect cost rate approved by the State of Alabama Department of Education.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Linden City Board of Education under programs of the federal government for the year ended September 30, 2023. 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 Linden City Board of Education, it is not intended to and does not present the financial position or changes in net position of the Linden City Board of Education.
Title: Basis of Accounting
Accounting Policies: A. Summary of Significant Accounting Policies
Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Linden City Board of Education under programs of the federal government for the year ended September 30, 2023. 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 Linden City Board of Education, it is not intended to and does not present the financial position or changes in net position of the Linden City Board of Education.
Basis of Accounting
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 allowed or are limited as to reimbursement.
Indirect Cost Rate
The Linden City Board of Education did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance; instead, the Board is using an indirect cost rate approved by the State of Alabama Department of Education.
Non-Cash Assistance
The Board 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, which was $33,491 for the year ended September 30, 2023, and is included Assistance Listing Number 10.555, National School Lunch Program, in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Linden City Board of Education did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance; instead, the Board is using an indirect cost rate approved by the State of Alabama 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 allowed or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: A. Summary of Significant Accounting Policies
Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Linden City Board of Education under programs of the federal government for the year ended September 30, 2023. 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 Linden City Board of Education, it is not intended to and does not present the financial position or changes in net position of the Linden City Board of Education.
Basis of Accounting
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 allowed or are limited as to reimbursement.
Indirect Cost Rate
The Linden City Board of Education did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance; instead, the Board is using an indirect cost rate approved by the State of Alabama Department of Education.
Non-Cash Assistance
The Board 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, which was $33,491 for the year ended September 30, 2023, and is included Assistance Listing Number 10.555, National School Lunch Program, in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Linden City Board of Education did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance; instead, the Board is using an indirect cost rate approved by the State of Alabama Department of Education.
The Linden City Board of Education did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance; instead, the Board is using an indirect cost rate approved by the State of Alabama Department of Education.
Title: Non-Cash Assistance
Accounting Policies: A. Summary of Significant Accounting Policies
Basis of Presentation
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Linden City Board of Education under programs of the federal government for the year ended September 30, 2023. 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 Linden City Board of Education, it is not intended to and does not present the financial position or changes in net position of the Linden City Board of Education.
Basis of Accounting
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 allowed or are limited as to reimbursement.
Indirect Cost Rate
The Linden City Board of Education did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance; instead, the Board is using an indirect cost rate approved by the State of Alabama Department of Education.
Non-Cash Assistance
The Board 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, which was $33,491 for the year ended September 30, 2023, and is included Assistance Listing Number 10.555, National School Lunch Program, in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Linden City Board of Education did not elect to use the 10-percent de minimis indirect cost rate as allowed in the Uniform Guidance; instead, the Board is using an indirect cost rate approved by the State of Alabama Department of Education.
The Board 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, which was $33,491 for the year ended September 30, 2023, and is included Assistance Listing Number 10.555, National School Lunch Program, in the Schedule.