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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Mission CISD has elected not to use 10% of the minimis indirect cost rate allowed under the Unifome Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Mission CISD. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Because this schedule presents only a selected portion of the operations of Mission CISD, it is not intended to and does not present the financial position, changes in net position, or cash flows of Mission CISD.
Title: Sub-recipients
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Mission CISD has elected not to use 10% of the minimis indirect cost rate allowed under the Unifome Guidance.
During the year ended June 30, 2024, the District had no sub-recipients.
Title: Federal Loans and Loan Guarantees
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Mission CISD has elected not to use 10% of the minimis indirect cost rate allowed under the Unifome Guidance.
During the year ended June 30, 2024, the District had no outstanding federal loans payable or loan guarantees.
Title: Federally Funded Insurance
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Mission CISD has elected not to use 10% of the minimis indirect cost rate allowed under the Unifome Guidance.
During the year ended June 30, 2024, the District had no federally funded insurance.
Title: Noncash awards
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Mission CISD has elected not to use 10% of the minimis indirect cost rate allowed under the Unifome Guidance.
During the year ended June 30, 2024, the District received non-cash assistance of $1,211,087 under the National School Lunch Program.
Title: Contengencies
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Mission CISD has elected not to use 10% of the minimis indirect cost rate allowed under the Unifome Guidance.
Grant monies received and disbursed by the District are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the District does not believe that such disallowance, if any, would have a material effect on the financial position of the District.
Title: Federal Pass-through Funds
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Mission CISD has elected not to use 10% of the minimis indirect cost rate allowed under the Unifome Guidance.
The District is also the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds. Federal awards other than those indicated as pass-through are considered to be direct.
Title: Reconciliation from the Schedule of Expenditures of Federal Awards to the Exhibit C-3:
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Mission CISD has elected not to use 10% of the minimis indirect cost rate allowed under the Unifome Guidance.
See table in report.