Audit 325670

Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIES Organization The accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered by the Sandy Creek Central School District. The School District’s organization is defined in Note 1 to the School District’s financial statements. Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Sandy Creek Central School District 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). Basis of Accounting 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Cluster Programs The following programs are identified by “OMB Compliance Supplement” to be part of a cluster of programs: U.S. Department of Education Special Education Cluster ALN 84.027 Special Education - Grants to States (IDEA, Part B) ALN 84.173 Special Education - Preschool Grants (IDEA Preschool) U.S. Department of Agriculture Nutrition Cluster ALN 10.555 Food Donation ALN 10.553 National School Breakfast Program ALN 10.555 National School Lunch Program ALN 10.555 Snack Program ALN 10.559 Summer Food Service Program Use of Subrecipients There were no awards passed through to subrecipients. Food Donation Nonmonetary assistance is reported in the schedule at fair market value of the food commodities received. At June 30, 2024, the School District had food commodities totaling $5,875 in inventory. De Minimis Indirect Cost Rate The District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: De Minimis Indirect Cost Rate The District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.