Notes to SEFA
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.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Instead the State approved rate was applied.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Clawson Public Schools (the 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). Because the Schedule presents only a selected portion of the operations of the School District, it is not intended to and does not present the financial position or changes in fund balance or net position of the School District.
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.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Instead the State approved rate was applied.
See note 3 on Notes to the Schedule of Expenditures of Federal Awards for chart
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.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Instead the State approved rate was applied.
See note 4 on Notes to the Schedule of Expenditures of Federal Awards for chart
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.
De Minimis Rate Used: N
Rate Explanation: The School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Instead the State approved rate was applied.
No amounts were provided to subrecipients