Title: NOTE 1 - REPORTING ENTITY BASIS OF PRESENTATION AND ACCOUNTING
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Bayless Consolidated School District and is presented on the modified cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Bayless Consolidated School District and is presented on the modified cash basis of accounting. 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.
Title: NOTE 2 - SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Bayless Consolidated School District and is presented on the modified cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate.
For the year ended June 30, 2024, federal awards totaling $26,018 were passed through to a subrecipient under CFDA number 84.048 - Career and Technical Education - Basic Grants to States (Perkins).
Title: NOTE 3 - DESCRIPTIONS OF MAJOR FEDERAL PROGRAM
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Bayless Consolidated School District and is presented on the modified cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate.
Title I Grants to Local Educational Agencies provide financial assistance to schools with high numbers of or high percentages of children from low-income families to improve their education. Education Stabilization Fund provides financial assistance to schools and other education-related entities for emergency assistance as a result of the Novel Coronavirus Disease 2019.
Title: NOTE 4 - NON-CASH ASSISTANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Bayless Consolidated School District and is presented on the modified cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate.
The District received and distributed commodities through the National School Lunch Program. The value of commodities as determined by the Food Service Section of the Department of Elementary and Secondary Education was $79,785.
Title: NOTE 5 - INSURANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Bayless Consolidated School District and is presented on the modified cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate.
The federal programs presented in the previous schedule did not have separate program specific insurance policies.
Title: NOTE 6 - LOANS/LOAN GUARANTEES/INTEREST SUBSIDIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Bayless Consolidated School District and is presented on the modified cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate.
The federal programs presented in the previous schedule did not have any loans, loan guarantees, or interest subsidies associated with them.
Title: NOTE 7 - DE MINIMIS COST RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Bayless Consolidated School District and is presented on the modified cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate.
The District has not elected to use the 10% de minimis indirect cost rate.
Title: NOTE 8 - DONATED PERSONAL PROTECTIVE EQUIPMENT
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Bayless Consolidated School District and is presented on the modified cash basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate.
The District did not receive any donated personal protective equipment during the year ended June 30, 2024.