Title: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modifiedaccrual basis of accounting, which is described in Note 1 to the School Systems basic financialstatements for the year ended June 30, 2022. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement. The value of noncash assistance is the fair value ofthe noncash items used during the year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of Jefferson Parish Public School System (the School System). The SchoolSystems reporting entity is defined in Note 1 to the basic financial statements for the year endedJune 30, 2022. All federal awards received directly from federal agencies and passed through othergovernment agencies are included on the schedule. The information in this Schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance).
Title: Accrued Reimbursement
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modifiedaccrual basis of accounting, which is described in Note 1 to the School Systems basic financialstatements for the year ended June 30, 2022. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement. The value of noncash assistance is the fair value ofthe noncash items used during the year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Various reimbursement procedures are used for federal awards received by the School System.Consequently, timing differences between expenditures and program reimbursements may exist atthe end of the year, resulting in differences between the expenditures reported on the Schedule ofExpenditures of Federal Awards and the amount of revenues reported under Federal sources onthe Statement of Revenues, Expenditures, and Changes in Fund Balances.
Title: Loans
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modifiedaccrual basis of accounting, which is described in Note 1 to the School Systems basic financialstatements for the year ended June 30, 2022. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement. The value of noncash assistance is the fair value ofthe noncash items used during the year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The School System did not expend federal awards related to loans or loan guarantees during theyear.
Title: Federally Funded Insurance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modifiedaccrual basis of accounting, which is described in Note 1 to the School Systems basic financialstatements for the year ended June 30, 2022. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement. The value of noncash assistance is the fair value ofthe noncash items used during the year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The School System has no federally funded insurance.
Title: Noncash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modifiedaccrual basis of accounting, which is described in Note 1 to the School Systems basic financialstatements for the year ended June 30, 2022. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement. The value of noncash assistance is the fair value ofthe noncash items used during the year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The School System received federal noncash assistance in the form of commodities in the amountof $1,578,585 for the fiscal year ended June 30, 2022.
Title: De Minimus Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the modifiedaccrual basis of accounting, which is described in Note 1 to the School Systems basic financialstatements for the year ended June 30, 2022. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement. The value of noncash assistance is the fair value ofthe noncash items used during the year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The School System has elected not to use the 10% de minimus cost rate as allowed under theUniform Guidance.