Audit 336483

Title: Note 1. Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Dyersburg City Schools Board of Education has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee has not elected to use the 10-percent de minimis cost rate as allowed under Uniform Guidance. The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Dyersburg City Schools Board of Education under programs of the federal government for the year ended 6/30/24. 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Dyersburg City Schools Board of Education, it is not intended to and does not present the net position or fund balance, changes in net position or fund balance, or cash flows, where applicable, of Dyersburg City Schools Board of Education.