Audit 33213

Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Bonham Independent School District under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Bonham Independent School District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Bonham Independent School District. Summary of Significant 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. Pass-through entity identifying numbers are presented where available. Food Distribution - Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed. At June 30, 2022, Bonham Independent School District had food commodities totaling $18,910 in inventory. Indirect Cost Rate - Bonham Independent School District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Reconciliation of Basic Financial Statements - The following is a reconciliation of expenditures of federal awards program per the Schedule of Expenditures of Federal Awards and expenditures reported in the financial statements as follows: -Total Federal Sources Per Financial Statements for Governmental Funds: $8,083,129 -School Health and Related Services (SHARS) Reimbursements Not Reported in the Schedule of Expenditures of Federal Awards: (222,346) -Total Federal Expenditures on Schedule of Expenditures of Federal Awards: $7,860,783 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.