Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 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 where certain types
of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Midland Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity
of Midland Public Schools under programs of the federal government for the year ended June 30, 2024. 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 Midland Public Schools, it is not intended to and does not present the financial position, changes in financial
positions of Midland Public Schools.
Title: Reconciliation to the Financial Statements
Accounting Policies: 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 where certain types
of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Midland Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The federal revenues per the financial statements reconcile with the schedule of expenditures of federal awards
as follows: Federal expenditures per the Schedule of Expenditures of Federal Awards $ 9,669,065
Adjustments (1,886)
Federal revenues per the financial statements $ 9,667,179
Title: Subrecipients
Accounting Policies: 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 where certain types
of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Midland Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
No amounts were provided to subrecipients.
Title: Michigan Department of Education Disclosures
Accounting Policies: 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 where certain types
of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Midland Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The federal amounts reported on the grant auditor report are in agreement with the schedule of expenditures of
federal awards.
The amounts reported on the recipient entitlement balance report agree with the schedule of expenditures of
federal awards for U.S.D.A. donated food commodities.