Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not
be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent 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
the Newcomerstown Exempted Village School District (the District), under programs of the federal government for
the year ended June 30, 2024. The information on this Schedule is prepared 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, changes in net position, or
cash flows of the District.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not
be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not
be allowable or may be limited as to reimbursement.
Title: NOTE C – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not
be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE D - CHILD NUTRITION CLUSTER
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not
be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The District commingles cash receipts from the U.S. Department of Agriculture with similar State grants. When
reporting expenditures on this Schedule, the District assumes it expends federal monies first.
Title: NOTE E – FOOD DONATION PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not
be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The District reports commodities consumed on the Schedule at the entitlement value. The District allocated donated
food commodities to the respective programs that benefitted from the use of those donated food commodities.
Title: NOTE F – CONSORTIUM GRANT EXPENDITURES
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not
be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
During the fiscal year ended June 30, 2024, the District passed/transferred grant fund allocations to the Muskingum
Valley Educational Service Center for Special Education Preschool Grants totaling $5,245 and to the Stark County
Educational Service Center for Title III Language Instruction for English Learners totaling $1,114.
Title: NOTE G - TRANSFERS BETWEEN PROGRAM YEARS
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not
be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal regulations require schools to obligate certain federal awards by June 30. However, with ODE’s consent,
schools can transfer unobligated amounts to the subsequent fiscal year’s program. The District transferred the
following amounts from 2023 to 2024 programs: