Audit 326441

Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered by the Adirondack 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 “OBM Compliance Supplement” to be part of a cluster of programs: U.S. Department of Education Special Education Cluster AL #84.027 – Special Education – Grants to States (IDEA, Part B) AL #84.173 – Special Education – Preschool Grants (IDEA, Preschool) AL #84.027X – Special Education – Grants to States (ARP-IDEA, Part B) AL #84.173X – Special Education – Preschool Grants (ARP-IDEA, Preschool) Child Nutrition Cluster AL #10.553 – National School Breakfast Program AL #10.555 – National School Lunch Program AL #10.555 – National Snack Program AL #10.555 – Non-Cash Assistance (Food Distribution) De Minimis Indirect Cost Rate The School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. 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 $24,485 in inventory. Donated Personal Protective Equipment (Unaudited) During the emergency period of COVID-19, federal agencies and recipients of federal assistance funds donated personal protective equipment (PPE) to non-federal entities. In connection with that donation, the recipient must disclose the estimated value of donated PPE, but such amounts are not included in the Schedule of Expenditures of Federal Awards. The School District did not receive any donated PPE during the reporting year. De Minimis Rate Used: N Rate Explanation: De Minimis Indirect Cost Rate The School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.