Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with the accrual basis of accounting, accounting principles generally accepted in the United States and the amounts presented are derived from the District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% 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 West Irondequoit Central School District (the 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). Since the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position or the respective changes in financial position of the governmental activities, each major fund, and the aggregate remaining fund information of the District.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with the accrual basis of accounting, accounting principles generally accepted in the United States and the amounts presented are derived from the District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are presented in conformity with the accrual basis of accounting, accounting principles generally accepted in the United States and the amounts presented are derived from the District’s general ledger.
Title: PASS-THROUGH PROGRAMS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with the accrual basis of accounting, accounting principles generally accepted in the United States and the amounts presented are derived from the District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Where the District receives funds from a government entity other than the federal government (pass-through), the funds are accumulated based upon the Assistance Listing (AL) number advised by the pass-through grantor.
Identifying numbers, other than the AL numbers, which may be assigned bypass-through grantors are not maintained in the District’s financial management system. The District has identified certain pass-through identifying numbers and included them in the schedule of expenditures of federal awards, as available.
Title: INDIRECT COSTS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with the accrual basis of accounting, accounting principles generally accepted in the United States and the amounts presented are derived from the District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Indirect costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented.
The District did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: MATCHING COSTS
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with the accrual basis of accounting, accounting principles generally accepted in the United States and the amounts presented are derived from the District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Matching costs, i.e., the District’s or State’s share of certain program costs, are not included in the schedule of expenditures of federal awards.
Title: NON-MONETARY FEDERAL PROGRAM
Accounting Policies: Expenditures reported on the Schedule are presented in conformity with the accrual basis of accounting, accounting principles generally accepted in the United States and the amounts presented are derived from the District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The District is the recipient of a federal financial award program that does not result in cash receipts or disbursements termed a “non-monetary” program. During the year ended June 30, 2024, the District received food commodities, the fair value of which amounted to $107,296, which is presented in the Schedule as National School Lunch Program (Division of Donated Foods, AL #10.555).