Title: Bullet point 1
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus. All federal grant funds were accounted for in a special revenue fund, or, in some instances, in the general fund, which are governmental fund type funds.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in fund balance. The modified accrual basis of accounting is used for the governmental fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on long-term debt, which is recognized when due, and certain ims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% deminimis indirect cost rate.
For all federal programs, the District uses the fund types specified in Texas Education Agency’s Financial Accountability System Resource Guide. Special revenue funds are used to account for resources restricted to, or designated for, specific purposes by a grantor. Federal and state financial assistance generally is accounted for in a special revenue fund.
Title: Bullet point 2
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus. All federal grant funds were accounted for in a special revenue fund, or, in some instances, in the general fund, which are governmental fund type funds.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in fund balance. The modified accrual basis of accounting is used for the governmental fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on long-term debt, which is recognized when due, and certain ims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% deminimis indirect cost rate.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus. All federal grant funds were accounted for in a special revenue fund, or, in some instances, in the general fund, which are governmental fund type funds. With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in fund balance. The modified accrual basis of accounting is used for the governmental fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on long-term debt, which is recognized when due, and certain compensated absences and claims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources. Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant, and accordingly, when such funds are received, they are recorded as unearned revenues until earned.
Title: Bullet point 3
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus. All federal grant funds were accounted for in a special revenue fund, or, in some instances, in the general fund, which are governmental fund type funds.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in fund balance. The modified accrual basis of accounting is used for the governmental fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on long-term debt, which is recognized when due, and certain ims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% deminimis indirect cost rate.
The period of performance for federal grant funds for the purpose of liquidation of outstanding obligations made on or before the ending date of the federal project period extended 90 days beyond the federal project period ending date, in accordance with provisions in Section H, Period of Performance of Federal Funds, Part 3, Uniform Guidance Compliance Supplement.
Title: Bullet point 4
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus. All federal grant funds were accounted for in a special revenue fund, or, in some instances, in the general fund, which are governmental fund type funds.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in fund balance. The modified accrual basis of accounting is used for the governmental fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on long-term debt, which is recognized when due, and certain ims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% deminimis indirect cost rate.
Federal assistance listing numbers for commodity assistance are the federal assistance numbers of the programs under which USDA donated the commodities.
Title: Bullet point 5
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus. All federal grant funds were accounted for in a special revenue fund, or, in some instances, in the general fund, which are governmental fund type funds.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in fund balance. The modified accrual basis of accounting is used for the governmental fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on long-term debt, which is recognized when due, and certain ims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% deminimis indirect cost rate.
Indirect cost reimbursement for federal programs for this fiscal year was received in the amount of $21,229.
Title: Bullet point 6
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The Governmental Fund types are accounted for using a current financial resources measurement focus. All federal grant funds were accounted for in a special revenue fund, or, in some instances, in the general fund, which are governmental fund type funds.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the balance sheet. Operating statements of these funds present increases and decreases in fund balance. The modified accrual basis of accounting is used for the governmental fund types. This basis of accounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on long-term debt, which is recognized when due, and certain ims and judgments, which are recognized when the obligations are expected to be liquidated with expendable available financial resources.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% deminimis indirect cost rate.
There were no awards passed through to subrecipients.