Notes to SEFA
Title: Title I Adjustment
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared under the modified accrual basis of accounting. Management has utilized the Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: Crestwood School District calculates an indirect cost rate for their National School Lunch program based on the maximum allowable amount published by MDE annually.
Title I adjustment of $45,727 was made due to disallowed expenditures from the 2021-2022 grant period.
Title: Preschool Incentive 2021-2022 Adjustment
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared under the modified accrual basis of accounting. Management has utilized the Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: Crestwood School District calculates an indirect cost rate for their National School Lunch program based on the maximum allowable amount published by MDE annually.
Preschool Incentive adjustment of $14,774 was made due to ISD claiming funds were not requested for the 2021-2022 grant period.
Title: Preschool Incentive 2022-2023 Adjustment
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared under the modified accrual basis of accounting. Management has utilized the Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: Crestwood School District calculates an indirect cost rate for their National School Lunch program based on the maximum allowable amount published by MDE annually.
Preschool Incentive adjustment of $3,153 was made due to ISD claiming funds were not requested for the 2022-2023 grant period.