Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by the District, which is described in Note 1 to the District’s general purpose financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The District’s indirect cost rate is set by the New York State Education Department.
The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by the District, which is described in Note 1 to the District’s general purpose financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
Title: SCOPE OF THE AUDIT PURSUANT TO THE UNIFORM GUIDANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by the District, which is described in Note 1 to the District’s general purpose financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The District’s indirect cost rate is set by the New York State Education Department.
Rensselaer City School District is a tax-exempt local government entity. All federal grant operations of the District are included in the scope of the Single Audit.
Title: SUBRECIPIENTS/LOAN OR LOAN GUARANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by the District, which is described in Note 1 to the District’s general purpose financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The District’s indirect cost rate is set by the New York State Education Department.
No amounts were provided to subrecipients and there were no loans or loan guarantees at year end.
Title: FEDERAL REVENUE RECONCILIATION
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by the District, which is described in Note 1 to the District’s general purpose financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The District’s indirect cost rate is set by the New York State Education Department.
TOTAL FEDERAL REVENUE PER FUND FINANCIAL STATEMENTS. GENERAL FUND 180,576. SPECIAL AID FUND 3,716,771. SCHOOL LUNCH FUND 876,211. TOTAL 4,773,558. LESS GENERAL FUND MEDICAID REVENUE 180,576. TOTAL FEDERAL REVENUE PER SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS 4,592,982.
Title: INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs administered by the District, which is described in Note 1 to the District’s general purpose financial statements, using the modified accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The District’s indirect cost rate is set by the New York State Education Department.
The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The District’s indirect cost rate is set by the New York State Education Department.