Audit 3357

Title: Relationship to Component Unit Basic Financial Statements Accounting Policies: General The accompanying schedule of expenditures of federal awards (SEFA) presents the activity of all federal financial assistance programs of the City and Borough of Juneau School District (School District), a component unit of the City and Borough of Juneau. The information in the SEFA 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). Federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other entities is included on the SEFA. The School District’s reporting entity is defined in Note 1 to the financial statements. Basis of Accounting Expenditures reported on the accompanying SEFA are presented using the modified-accrual basis of accounting, which is described in Note 1 of the School District’s basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circulars, as applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The School District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The School District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The following is a reconciliation of federal revenues reported in the School District's basic financial statements to federal expenditures reported in the SEFA: Federal revenues as reported in the basic financial statements $ 10,689,790 Add: Federal revenue reported as local revenue in the basic financial statements but reported as federal revenue on the SEFA. 690,166 Less: Amounts received for Medicaid reimbursements reported as federal revenue in the basic financial statements, but not included on the SEFA (81,079) Less: Contract revenue reported as federal revenue in the basic financial statements but not included on the SEFA (813,510) Federal expenditures as reported on the SEFA $ 10,485,367