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 Saginaw Intermediate School District 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 the Saginaw Intermediate
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
Saginaw Intermediate School District, it is not intended to and does not present the financial position and changes in financial positions, of the
Saginaw Intermediate 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 Saginaw Intermediate School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
Expenditures per the schedule of expenditures of federal awards $ 26,266,578
Prior year deferred inflows of resources
AL #84.173
PL 94-142 Preschool Incentive 2022-23 5,076
Revenue in current year that should have been in prior year
AL #84.027A
IDEA Part B Grant Fund Initiatives 2022-23 6,136
Federal revenue per the financial statements $ 26,277,790
There should have been revenue and receivable as of June 30, 2023 of $6,136 for IDEA part B from Marquette-Alger RESA. This was recorded in
the 2023-2024 fiscal year.
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 Saginaw Intermediate School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The federal amounts reported on the grant auditor report are in agreement with the schedule of expenditures of federal awards.
The amounts reported on the recipient entitlement balance report agree with the schedule of expenditures of federal awards for U.S.D.A. donated
food commodities.
Title: Medicaid Administrative Outreach Program
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 Saginaw Intermediate School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
Eligible Cost/Cost Pool Summary Reports reflect the financial accounting records for Medicaid Administrative Outreach activities. However, the
amounts that are reimbursed and reported as both revenue and expenditures reflect the application of the time study results, the Medicaid Eligibility
Rate and the FFP.