Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. The
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
Governmental Fund types are accounted for using a current financial resources measurement focus. All Federal
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
grant funds were accounted for in a Special Revenue Fund or, in some instances, in the General Fund which are
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
Governmental Fund type funds.
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
With this measurement focus, only current assets and current liabilities and the fund balance are included on the
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
balance sheet. Operating statements of these funds present increases and decreases in net current assets. The
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
modified accrual basis of accounting is used for the Governmental Fund types. This basis of accounting
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., both measurable
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
and available, and expenditures in the accounting period in which the fund liability is incurred, if measurable,
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
except for unmatured interest on General Long-Term Debt, which is recognized when due, and certain
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
compensated absences and claims and judgments, which are recognized when the obligations are expected to be
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
liquidated with expendable available financial resources. Federal grant funds are considered to be earned to the
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
extent of expenditures made under the provisions of the grant, and, accordingly, when such funds are received,
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
they are recorded as unearned revenues until earned.
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
* The District must submit to the pass-through entity, no later than 90 calendar days (or an earlier date as agreed
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
upon by the pass-through entity and the District) after the end date of the period of performance, all financial,
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
performance, and other reports as required by the terms and conditions of the Federal award. The Federal
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
awarding agency or pass-through entity may approve extensions when requested and justified by the non-Federal
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
entity, as applicable (2 CFR 200.344(a)).
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
Unless the Federal awarding agency or pass-through entity authorizes an extension, a non-Federal entity must
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
liquidate all financial obligations incurred under the Federal award no later than 120 calendar days after the end
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
date of the performance as specified in the terms and conditions of the Federal award (2 CFR 200.344(b)).
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
* Assistance Listing Number (CFDA) numbers for commodity assistance are the Assistance Listing Number
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
(CFDA) numbers of the programs under which USDA donated the commodities.
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award programs of
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
the District. The District's reporting entity is defined in Note I of the basic financial statements. Federal awards
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
received directly from federal agencies, as well as federal awards passed through other government agencies, are
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
included on the Schedule of Expenditures of Federal Awards.
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting.
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Title: NOTES ON ACCOUNTING POLICIES FOR FEDERAL AW ARDS
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
Federal Awards (Uniform Guidance). Therefore, some of the amounts presented in this schedule may differ from
Title: FOR THE YEAR ENDING AUGUST 31, 2024
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
amounts presented in, or used in the preparation of, the financial statements.
Title: PREMONT INDEPENDENT SCHOOL DISTRICT
Accounting Policies: The accounting and financial reporting treatment applied to a fund is determined by its measurements focus. The Governmental Fund types are accounted for using a current financial resosurces measurement focus. All Federal grant funds were accounted for in a Special Revenue fund or, in some instances, in the eneral Fund which are Governmental typr funds.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to apply the 10% de minimis indirect cost rate as described at 2 CFR 200 Indirect (F&A) costs.
None of the federal programs expended by the District were provided to sub-recipients.