Notes to SEFA
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.
De Minimis Rate Used: N
Rate Explanation: Mattawan Consolidated School 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 Mattawan Consolidated School under programs of the federal government for the year ended June 30, 2023. 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 Mattawan Consolidated School, it is not intended to and does not present the financial position or changes in financial position of Mattawan Consolidated School.
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.
De Minimis Rate Used: N
Rate Explanation: Mattawan Consolidated School 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 reconcile to federal expenditures, per the Schedule, as follows:
Federal revenues, per the financial statements $ 2,796,711
Less: unavailable revenue 21-22 (143,847)
Plus: Adjustment from 21-22 SEFA 660
Federal expenditures, per the Schedule $ 2,653,524
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.
De Minimis Rate Used: N
Rate Explanation: Mattawan Consolidated School 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.
De Minimis Rate Used: N
Rate Explanation: Mattawan Consolidated School 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 (GAR) are in agreement with the Schedule except for the following payments which were disbursed per the GAR as of June 30, 2022, but not received by the School District until July 2022:
See 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.