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, as applicable, either the cost principles contained in the Uniform
Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Avondale 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 Avondale 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 Avondale School District, it is not intended to and does not present the financial position, changes in financial positions of Avondale 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, as applicable, either the cost principles contained in the Uniform
Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Avondale School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The federal revenues per the financial statements are in agreement with the schedule of expenditures of federal
awards except for the following items:
Federal revenues per the financial statements: $8,501,023,
Federal reimbursed interest: ($155,450),
Grant funds not received within 60 days: $153,871,
Prior year grant funds not received within 60 days received in the current year: ($943,139),
Federal revenues per schedule of federal awards: $7,556,305
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in the Uniform
Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Avondale School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No amounts were provided to subrecipients.
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, as applicable, either the cost principles contained in the Uniform
Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Avondale 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 except for the following:
See the Notes to the SEFA for chart/table.
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: Adjustments
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in the Uniform
Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Avondale School District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The June 30, 2023 Schedule of Expenditures of Federal Awards recorded $351 of expenditures for grant number 230520-2223 and $896 of expenditures for grant number 230750-2223. These expenditures were in excess of the grant budget therefore reported as adjustments of $(351) for grant number 230520-2223 and $(896) for grant number 230750-2223 on the June 30, 2024 Schedule of Expenditures for Federal Awards.
The June 30, 2023 Schedule of Expenditures of Federal Awards recorded expenditures related to the 21-22 grant year which were reclassified on the June 30, 2024 Schedule of Expenditures of Federal Awards as carryover grant expenditures for the 22-23 grant year. The reclassification is detailed as follow:
See the Notes to the SEFA for chart/table.