Title: GENERAL
Accounting Policies: The expenditures reported on the Schedule are reported using the modified accrual basis of accounting,
with the exception of the National School Lunch Program, the School Breakfast Program, the Food
Distribution Program, and the Child and Adult Care Food Program. Under the modified accrual basis of
accounting, revenues are recognized in the accounting period in which they become available and
measurable, and expenditures in the accounting period in which the fund liability is incurred, if
measurable. Expenditures in the National School Lunch Program, the School Breakfast Program, the
Food Distribution Program, and the Child and Adult Care Food Program are not specifically attributable to
this revenue source and are shown on the Schedule in an amount equal to revenue for balancing
purposes only. Such expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the 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 Hays Consolidated Independent School District (the “District”) under programs of the
federal government for the year ended June 30, 2024. 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 the District, it is
not intended to and does not present the financial position, change in net position, or cash flows of the
District.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The expenditures reported on the Schedule are reported using the modified accrual basis of accounting,
with the exception of the National School Lunch Program, the School Breakfast Program, the Food
Distribution Program, and the Child and Adult Care Food Program. Under the modified accrual basis of
accounting, revenues are recognized in the accounting period in which they become available and
measurable, and expenditures in the accounting period in which the fund liability is incurred, if
measurable. Expenditures in the National School Lunch Program, the School Breakfast Program, the
Food Distribution Program, and the Child and Adult Care Food Program are not specifically attributable to
this revenue source and are shown on the Schedule in an amount equal to revenue for balancing
purposes only. Such expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the de minimis indirect cost rate as allowed under the Uniform
Guidance.
Basis of Accounting
The expenditures reported on the Schedule are reported using the modified accrual basis of accounting,
with the exception of the National School Lunch Program, the School Breakfast Program, the Food
Distribution Program, and the Child and Adult Care Food Program. Under the modified accrual basis of
accounting, revenues are recognized in the accounting period in which they become available and
measurable, and expenditures in the accounting period in which the fund liability is incurred, if
measurable. Expenditures in the National School Lunch Program, the School Breakfast Program, the
Food Distribution Program, and the Child and Adult Care Food Program are not specifically attributable to
this revenue source and are shown on the Schedule in an amount equal to revenue for balancing
purposes only. Such expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
Title: PASS-THROUGH EXPENDITURES
Accounting Policies: The expenditures reported on the Schedule are reported using the modified accrual basis of accounting,
with the exception of the National School Lunch Program, the School Breakfast Program, the Food
Distribution Program, and the Child and Adult Care Food Program. Under the modified accrual basis of
accounting, revenues are recognized in the accounting period in which they become available and
measurable, and expenditures in the accounting period in which the fund liability is incurred, if
measurable. Expenditures in the National School Lunch Program, the School Breakfast Program, the
Food Distribution Program, and the Child and Adult Care Food Program are not specifically attributable to
this revenue source and are shown on the Schedule in an amount equal to revenue for balancing
purposes only. Such expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the de minimis indirect cost rate as allowed under the Uniform
Guidance.
None of the federal programs expended by the District were provided to subrecipients.
Title: INDIRECT COSTS
Accounting Policies: The expenditures reported on the Schedule are reported using the modified accrual basis of accounting,
with the exception of the National School Lunch Program, the School Breakfast Program, the Food
Distribution Program, and the Child and Adult Care Food Program. Under the modified accrual basis of
accounting, revenues are recognized in the accounting period in which they become available and
measurable, and expenditures in the accounting period in which the fund liability is incurred, if
measurable. Expenditures in the National School Lunch Program, the School Breakfast Program, the
Food Distribution Program, and the Child and Adult Care Food Program are not specifically attributable to
this revenue source and are shown on the Schedule in an amount equal to revenue for balancing
purposes only. Such expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the de minimis indirect cost rate as allowed under the Uniform
Guidance.
The District has elected to not use the de minimis indirect cost rate as allowed under the Uniform
Guidance.
Title: RECONCILIATION OF FEDERAL REVENUES AND THE SCHEDULE OF EXPENDITURES OF
FEDERAL AWARDS
Accounting Policies: The expenditures reported on the Schedule are reported using the modified accrual basis of accounting,
with the exception of the National School Lunch Program, the School Breakfast Program, the Food
Distribution Program, and the Child and Adult Care Food Program. Under the modified accrual basis of
accounting, revenues are recognized in the accounting period in which they become available and
measurable, and expenditures in the accounting period in which the fund liability is incurred, if
measurable. Expenditures in the National School Lunch Program, the School Breakfast Program, the
Food Distribution Program, and the Child and Adult Care Food Program are not specifically attributable to
this revenue source and are shown on the Schedule in an amount equal to revenue for balancing
purposes only. Such expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected to not use the de minimis indirect cost rate as allowed under the Uniform
Guidance.
The following is the reconciliation of federal revenues and the Schedule of Expenditures of Federal
Awards for the fiscal year:
Federal revenues on the Statement of Revenues, Expenditures and
Changes in Fund Balance Governmental Funds (Exhibit C-3) $ 20,350,433
School health and related services revenue (2,070,513)
E-Rate (422,589)
Federal expenditures on the Schedule of Expenditures of
Federal Awards (Exhibit K-1) $ 17,857,331