Title: BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award
programs of Pine Tree Independent School District. The District’s reporting entity is defined in Note I of
the financial statements. Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies, are included on the Schedule of Expenditures of
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The District’s significant account policies, including the modified accrual basis of accounting,
are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the financial statements.
Title: PASS-THROUGH EXPENDITURES
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award
programs of Pine Tree Independent School District. The District’s reporting entity is defined in Note I of
the financial statements. Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies, are included on the Schedule of Expenditures of
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.
None of the federal programs expended by the District were provided to subrecipients.
Title: GRANTOR AGENCY AUDITS AND ADJUSTMENTS
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award
programs of Pine Tree Independent School District. The District’s reporting entity is defined in Note I of
the financial statements. Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies, are included on the Schedule of Expenditures of
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.
The District participates in numerous state and federal grant programs, which are governed by various
rules and regulations of the grantor agencies. Costs charged to the respective grant programs are
subject to audit and adjustments by the grantor agencies; therefore, to the extent that the District has
not complied with rules and regulations governing the grants, refund of any money received may be
required and the collectability of any related receivable at June 30, 2024, may be impaired. In the
opinion of the District, there are no significant contingent liabilities relating to compliance with the rules
and regulations governing the respective grants; therefore, no provision has been recorded in the
accompanying financial statements for such contingencies.
Title: RECONCILIATION OF FEDERAL REVENUES AND THE SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award
programs of Pine Tree Independent School District. The District’s reporting entity is defined in Note I of
the financial statements. Federal awards received directly from federal agencies, as well as federal
awards passed through other government agencies, are included on the Schedule of Expenditures of
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.
The following is a reconciliation of federal revenues and the SEFA for the year ended June 30, 2024:
Federal revenues on the Statement of Revenues, Expenditures and
Changes in Fund Balance Governmental Funds (Exhibit C-3) $ 9,358,761
School health and related services revenue (367,077)
Federal expenditures on the Schedule of Expenditures of
Federal Awards (Exhibit K-1) $ 8,991,684