Notes to SEFA
Title: Basis of Presentation (Note 1)
Accounting Policies: Expenditures reported in the Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the School Board's basic financial statements for the year ended June 30, 2022. Such expenditures are recognized following the cost principles in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School Board has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the Acadia Parish School Board under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirement 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 Acadia Parish School Board, it is not intended to and does not present the financial position of the School Board.
Title: Noncash Programs (Note 4)
Accounting Policies: Expenditures reported in the Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the School Board's basic financial statements for the year ended June 30, 2022. Such expenditures are recognized following the cost principles in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School Board has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The commodities received, which are noncash revenues, are valued using pricing provided by the United States Department of Agriculture.
Title: Federal Awards Passed Through to Subrecipients (Note 5)
Accounting Policies: Expenditures reported in the Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the School Board's basic financial statements for the year ended June 30, 2022. Such expenditures are recognized following the cost principles in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School Board has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
There were no federal awards passed through to subrecipients for the year ended June 30, 2022.