Title: Note 1.
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting which is a basis of
accounting other than accounting principles generally accepted in the United States of America.
Accordingly, revenue is recognized and recorded in the account when cash is received. In the same
manner, expenditures are recognized and recorded upon the disbursement of cash. The cash basis of
accounting does not give effect to accounts receivable, accounts payable, accrued items, capital assets
and depreciation, leases, subscription based information technology arrangements and related long term
debt including pension and other postemployment benefit liabilities.
Disbursements are recognized following cost principles contained in Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “schedule”) includes the federal grant
activity of Silvis School District No. 34 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 Silvis School District No. 34, it is not intended to and does not
present the financial position, changes in net position or cash flows of Silvis School District No. 34
Title: Note 2.
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting which is a basis of
accounting other than accounting principles generally accepted in the United States of America.
Accordingly, revenue is recognized and recorded in the account when cash is received. In the same
manner, expenditures are recognized and recorded upon the disbursement of cash. The cash basis of
accounting does not give effect to accounts receivable, accounts payable, accrued items, capital assets
and depreciation, leases, subscription based information technology arrangements and related long term
debt including pension and other postemployment benefit liabilities.
Disbursements are recognized following cost principles contained in Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the schedule are reported on the cash basis of accounting which is a basis of accounting other than accounting principles generally accepted in the United States of America. Accordingly, revenue is recognized and recorded in the account when cash is received. In the same manner, expenditures are recognized and recorded upon the disbursement of cash. The cash basis of accounting does not give effect to accounts receivable, accounts payable, accrued items, capital assets and depreciation, leases, subscription based information technology arrangements and related long term debt including pension and other postemployment benefit liabilities.
Disbursements are recognized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 3.
Accounting Policies: Expenditures reported on the schedule are reported on the cash basis of accounting which is a basis of
accounting other than accounting principles generally accepted in the United States of America.
Accordingly, revenue is recognized and recorded in the account when cash is received. In the same
manner, expenditures are recognized and recorded upon the disbursement of cash. The cash basis of
accounting does not give effect to accounts receivable, accounts payable, accrued items, capital assets
and depreciation, leases, subscription based information technology arrangements and related long term
debt including pension and other postemployment benefit liabilities.
Disbursements are recognized following cost principles contained in Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the
Uniform Guidance.
The District has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.