Title: BASIS OF ACCOUNTING
Accounting Policies: Expenditures reported on the Schedule are presented on the accrual basis of accounting, in
conformity with accounting principles generally accepted in the United States and the amounts
presented are derived from the School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not elect to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal
grant activity of the Burnt Hills Ballston Lake Central School District (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 the respective changes in financial position of the governmental
activities, each major fund, and the aggregate remaining fund information of the School District.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are presented on the accrual basis of accounting, in
conformity with accounting principles generally accepted in the United States and the amounts
presented are derived from the School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not elect to use the 10% de minimis cost rate.
Expenditures reported on the Schedule are presented on the accrual basis of accounting, in
conformity with accounting principles generally accepted in the United States and the amounts
presented are derived from the School District’s general ledger.
Title: PASS-THROUGH PROGRAMS
Accounting Policies: Expenditures reported on the Schedule are presented on the accrual basis of accounting, in
conformity with accounting principles generally accepted in the United States and the amounts
presented are derived from the School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not elect to use the 10% de minimis cost rate.
Where the School District receives funds from a government entity other than the federal
government (pass-through), the funds are accumulated based upon the Assistance Listing
number advised by the pass-through grantor.
Identifying numbers, other than the Assistance Listing numbers, which may be assigned by
pass-through grantors are not maintained in the School District’s financial management system.
The School 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 on the accrual basis of accounting, in
conformity with accounting principles generally accepted in the United States and the amounts
presented are derived from the School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not elect to use the 10% de minimis cost rate.
Indirect costs are included in the reported expenditures to the extent they are included in the
financial reports used as the source for the expenditures presented.
The School District did not elect to use the 10 percent de-minimis indirect cost rate as allowed
under the Uniform Guidance.
Title: MATCHING COSTS
Accounting Policies: Expenditures reported on the Schedule are presented on the accrual basis of accounting, in
conformity with accounting principles generally accepted in the United States and the amounts
presented are derived from the School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not elect to use the 10% de minimis cost rate.
Matching costs, i.e., the School District’s share of certain program costs, are not included in the
reported expenditures.
Title: NON-CASH FEDERAL ASSISTANCE
Accounting Policies: Expenditures reported on the Schedule are presented on the accrual basis of accounting, in
conformity with accounting principles generally accepted in the United States and the amounts
presented are derived from the School District’s general ledger.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not elect to use the 10% de minimis cost rate.
The School District is the recipient of a federal financial award program that does not result in
cash receipts or disbursements termed non-cash assistance. During the year ended June 30,
2024, the School District received food commodities, the fair value of which amounted to
$43,571 is presented in the Schedule as National School Lunch Program (Division of Donated
Foods, Assistance Listing #10.555).