Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Catasauqua Area 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 Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of operation of Catasauqua Area School District, it is not intended to and does not present the net position, changes in net position or cash flows of Catasauqua Area School District.
Title: Indirect Costs
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A
The District did not charge any indirect costs to any of their grants and programs during this fiscal year. As such, the District did not use the 10% de minimis cost rate.
Title: Non-Cash Awards
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A
The District received non-cash commodities during the current year in the amount of $73,224.
Title: Sub-Recipients
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A
There were no federal awards passed through to subrecipients during the year.
Title: Reissued Financial Statements
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain type of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying financial statements were revised October 24, 2024, to include the results of the additional audit work performed on the School Breakfast Program (ALN 10.553) and National School Lunch Program (ALN 10.555). Additionally, the financial statements were further revised December 19, 2024, to include ESSER School Health and Safety (ALN 84.425D) on the Schedule of Expenditures of Federal Awards for the year ended June 30, 2022, which resulted in the use of multiple dates in our audit report.