Title: NOTE 1 - GENERAL
Accounting Policies: NOTE 1 – GENERAL - The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards programs of Amarillo Independent School District (the District) for the year ended June 30, 2024. The District's reporting entity is defined in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements. Federal financial assistance received directly from federal agencies as well as assistance passed through other government agencies is included on the Schedule. The District did not elect to use the 10% de minimis indirect cost rate. The District did not provide pass-through funds to subrecipients for the year ended June 30, 2024. NOTE 2 - BASIS OF ACCOUNTING - The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements. NOTE 3 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS - Amounts reported in the accompanying Schedule agree with the amounts reported in the related federal financial reports considering timing differences of cash receipts. NOTE 4 - COMMITMENTS AND CONTINGENCIES - 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 adjustment by the grantor agencies; therefore, to the extent that the District has not complied with the rules and regulations governing the grants, refunds of any money received may be required. In the opinion of the District's administration, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grant.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards programs of Amarillo Independent School District (the District) for the year ended June 30, 2024. The District's reporting entity is defined in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements. Federal financial assistance received directly from federal agencies as well as assistance passed through other government agencies is included on the Schedule. The District did not elect to use the 10% de minimis indirect cost rate. The District did not provide pass-through funds to subrecipients for the year ended June 30, 2024.
Title: NOTE 2 - BASIS OF ACCOUNTING
Accounting Policies: NOTE 1 – GENERAL - The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards programs of Amarillo Independent School District (the District) for the year ended June 30, 2024. The District's reporting entity is defined in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements. Federal financial assistance received directly from federal agencies as well as assistance passed through other government agencies is included on the Schedule. The District did not elect to use the 10% de minimis indirect cost rate. The District did not provide pass-through funds to subrecipients for the year ended June 30, 2024. NOTE 2 - BASIS OF ACCOUNTING - The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements. NOTE 3 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS - Amounts reported in the accompanying Schedule agree with the amounts reported in the related federal financial reports considering timing differences of cash receipts. NOTE 4 - COMMITMENTS AND CONTINGENCIES - 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 adjustment by the grantor agencies; therefore, to the extent that the District has not complied with the rules and regulations governing the grants, refunds of any money received may be required. In the opinion of the District's administration, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grant.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements.
Title: NOTE 3 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: NOTE 1 – GENERAL - The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards programs of Amarillo Independent School District (the District) for the year ended June 30, 2024. The District's reporting entity is defined in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements. Federal financial assistance received directly from federal agencies as well as assistance passed through other government agencies is included on the Schedule. The District did not elect to use the 10% de minimis indirect cost rate. The District did not provide pass-through funds to subrecipients for the year ended June 30, 2024. NOTE 2 - BASIS OF ACCOUNTING - The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements. NOTE 3 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS - Amounts reported in the accompanying Schedule agree with the amounts reported in the related federal financial reports considering timing differences of cash receipts. NOTE 4 - COMMITMENTS AND CONTINGENCIES - 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 adjustment by the grantor agencies; therefore, to the extent that the District has not complied with the rules and regulations governing the grants, refunds of any money received may be required. In the opinion of the District's administration, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grant.
De Minimis Rate Used: N
Rate Explanation: N/A
Amounts reported in the accompanying Schedule agree with the amounts reported in the related federal financial reports considering timing differences of cash receipts.
Title: NOTE 4 - COMMITMENTS AND CONTINGENCIES
Accounting Policies: NOTE 1 – GENERAL - The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal awards programs of Amarillo Independent School District (the District) for the year ended June 30, 2024. The District's reporting entity is defined in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements. Federal financial assistance received directly from federal agencies as well as assistance passed through other government agencies is included on the Schedule. The District did not elect to use the 10% de minimis indirect cost rate. The District did not provide pass-through funds to subrecipients for the year ended June 30, 2024. NOTE 2 - BASIS OF ACCOUNTING - The accompanying Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 - Summary of Significant Accounting Policies to the District's basic financial statements. NOTE 3 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS - Amounts reported in the accompanying Schedule agree with the amounts reported in the related federal financial reports considering timing differences of cash receipts. NOTE 4 - COMMITMENTS AND CONTINGENCIES - 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 adjustment by the grantor agencies; therefore, to the extent that the District has not complied with the rules and regulations governing the grants, refunds of any money received may be required. In the opinion of the District's administration, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grant.
De Minimis Rate Used: N
Rate Explanation: N/A
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 adjustment by the grantor agencies; therefore, to the extent that the District has not complied with the rules and regulations governing the grants, refunds of any money received may be required. In the opinion of the District's administration, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respective grant.