Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Adjustments were made to correct the amount of expenditures allowed in the current year.
De Minimis Rate Used: N
Rate Explanation: Mt. Pleasant 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 Mt. Pleasant 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 Mt. Pleasant Public Schools, it is not intended to and does not present the financial position, changes in
financial positions of Mt. Pleasant Public Schools.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Adjustments were made to correct the amount of expenditures allowed in the current year.
De Minimis Rate Used: N
Rate Explanation: Mt. Pleasant Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The following reconciles the federal revenue reported in the June 30, 2024 financial statements to the
expenditures on Mt. Pleasant Public Schools administered federal programs reported on the schedule of
expenditures of federal awards:
Federal expenditures per the schedule of expenditures of federal awards $ 8,592,130
Child Care Relief Fund Grants received under beneficiary payment arrangements 7 6,231
Federal revenue per the financial statements $ 8,668,361
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Adjustments were made to correct the amount of expenditures allowed in the current year.
De Minimis Rate Used: N
Rate Explanation: Mt. Pleasant 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: Michigan Department of Education Disclosures
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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. Negative amounts shown on the Schedule
represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years. Adjustments were made to correct the amount of expenditures allowed in the current year.
De Minimis Rate Used: N
Rate Explanation: Mt. Pleasant Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The differences below represent payments made, per the grant auditor report, by June 30, 2024 and 2023, but
not yet received by the District until after the respective year ends.
Assistance Grant /
Listing Project Receipts Receipts
Program Title Number Number per GAR per SEFA Difference
Child and Adult Care Food Program 2022-23 10.558 231920 $ 2 ,823 $ 6,447 $ (3,624)
Child and Adult Care Food Program 2023-24 10.558 232010 7 77 1,235 ( 458)
School Breakfast Program 2022-23 10.553 231970 9 9,007 165,869 (66,862)
National School Lunch Program 2022-23 10.555 231960 1 67,672 270,670 (102,998)
School Breakfast Program 2023-24 10.553 241970 5 15,680 436,214 79,466
National School Lunch Program 2023-24 10.555 241960 9 56,118 811,043 145,075
Child and Adult Care Food Program 2023-24 10.558 241920 3 ,979 3,313 666
Child and Adult Care Food Program 2023-24 10.558 242010 1 ,175 977 198
The amounts reported on the recipient entitlement balance