Audit 324920

Title: Note 1 - Basis of Presentation Accounting Policies: Expenditures Expenditures reported on the Schedule are reported on the 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: Indirect Cost Rate Alma 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 Alma 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 Alma Public Schools, it is not intended to and does not present the financial position, changes in net position, or cash flows of Alma Public Schools.

Title: Note 2 - Summary of Significant Accounting Policies Accounting Policies: Expenditures Expenditures reported on the Schedule are reported on the 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: Indirect Cost Rate Alma Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Expenditures Expenditures reported on the Schedule are reported on the 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. Indirect Cost Rate Alma Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Title: Note 3 - Reconciliation to the Financial Statements Accounting Policies: Expenditures Expenditures reported on the Schedule are reported on the 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: Indirect Cost Rate Alma Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. See the Notes to the SEFA for chart/table

Title: Note 4 - Subrecipients Accounting Policies: Expenditures Expenditures reported on the Schedule are reported on the 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: Indirect Cost Rate Alma 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: Note 5 - Michigan Department of Education Disclosures Accounting Policies: Expenditures Expenditures reported on the Schedule are reported on the 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: Indirect Cost Rate Alma 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.