Notes to SEFA
Title: GRANT AUDITOR REPORT
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Westwood Community School District (the School District). The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) 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 School District and therefore it is not intended to and does not present the financial position or changes in net assets of the School District for year ended June 30, 2024. Expenditures reported on the schedule are reported on the accrual basis of accounting. In addition, expenditures reported on the schedule are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School District used the MDE approved indirect cost rate.
Management has utilized the Cash Management System (CMS) Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards. Unreconciled differences, if any, have been disclosed to the auditor.
Title: NONCASH ASSISTANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Westwood Community School District (the School District). The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) 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 School District and therefore it is not intended to and does not present the financial position or changes in net assets of the School District for year ended June 30, 2024. Expenditures reported on the schedule are reported on the accrual basis of accounting. In addition, expenditures reported on the schedule are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School District used the MDE approved indirect cost rate.
The value of the noncash assistance received was determined in accordance with the provisions of the Uniform Guidance.
Commodities – Inventory values are based on USDA value for donated food commodities. Reported commodity values were computed using the recipient entitlement balance report and other records.
Title: MAJOR PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Westwood Community School District (the School District). The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) 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 School District and therefore it is not intended to and does not present the financial position or changes in net assets of the School District for year ended June 30, 2024. Expenditures reported on the schedule are reported on the accrual basis of accounting. In addition, expenditures reported on the schedule are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School District used the MDE approved indirect cost rate.
Major programs are designated on the Schedule of Expenditures of Federal Awards with an asterisk (*).
Title: SUBSEQUENT EVENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Westwood Community School District (the School District). The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) 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 School District and therefore it is not intended to and does not present the financial position or changes in net assets of the School District for year ended June 30, 2024. Expenditures reported on the schedule are reported on the accrual basis of accounting. In addition, expenditures reported on the schedule are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School District used the MDE approved indirect cost rate.
All subsequent events related to the major programs were evaluated through October 15, 2024, the date the accompanying reports were available to be issued. No significant event was noted that required adjustment or disclosure in the report.