Audit 32363

Accounting Policies: COOS COUNTY SCHOOL DISTRICT NO. 54NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDSFor the Fiscal Year Ended June 30, 2022Note 1.Purpose of the Schedule The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Coos County School District No. 54 for the year ended June 30, 2022. Note 2.Basis of PresentationThe accompany schedule of expenditures of federal awards is presented on the modified accrual basis of accounting as described in Note 1 to the Districts basic financial statements. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.Note 3. SubrecipientsDuring the year ended June 30, 2022, the District did not provide any financial awards to subrecipients.Note 4. De Minimis Cost RateThe District did not elect to use the 10 percent de minimis indirect cost rate during the 2021-22 fiscal year.Note 5. Federal Financial AssistancePursuant to Uniform Guidance, federal financial assistance is defined as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance or direct appropriations. Accordingly, non-monetary federal assistance, including federal surplus property and commodities, is included in federal financial assistance and, therefore, is reported on the Schedule, if applicable. Federal financial assistance does not include direct federal cash assistance to individuals or solicited contracts between the state and federal governments for which the federal government procures tangible goods or services.Note 6. Major ProgramsUniform Guidance established criteria to be used in defining major federal financial assistance programs. Major programs for the District are those programs selected for testing by the auditor using a risk-assessment model, as well as certain minimum expenditure requirements, as outlined in Uniform Guidance. Programs with similar requirements may be grouped into a cluster for testing purposes. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.