Title: Note A. Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Ascension Parish School Board (the School Board) and is presented using the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the School Board did not elect to use the 10% de minimis indirect cost rate as covered in Section 200.414 of the Uniform Guidance. Instead, the School Board uses an indirect cost rate that is approved and provided by the Louisiana Department of Education.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Ascension Parish School Board (the School Board) and is presented using the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
Title: Note B. Non-Cash Assistance - Food Commodities
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Ascension Parish School Board (the School Board) and is presented using the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the School Board did not elect to use the 10% de minimis indirect cost rate as covered in Section 200.414 of the Uniform Guidance. Instead, the School Board uses an indirect cost rate that is approved and provided by the Louisiana Department of Education.
Non‐monetary assistance is reported in the schedule at the fair market value of the commodities received. During the year ended June 30, 2024, the School Board received commodities valued at $1,574,335. As of June 30, 2024, the School Board had food commodities totaling $720,974 in inventory.
Title: Note C. De Minimis Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Ascension Parish School Board (the School Board) and is presented using the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the School Board did not elect to use the 10% de minimis indirect cost rate as covered in Section 200.414 of the Uniform Guidance. Instead, the School Board uses an indirect cost rate that is approved and provided by the Louisiana Department of Education.
During the year ended June 30, 2024, the School Board did not elect to use the 10% de minimis indirect cost rate as covered in Section 200.414 of the Uniform Guidance. Instead, the School Board uses an indirect cost rate that is approved and provided by the Louisiana Department of Education.
Title: Note D. Reconciliation To Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Ascension Parish School Board (the School Board) and is presented using the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the School Board did not elect to use the 10% de minimis indirect cost rate as covered in Section 200.414 of the Uniform Guidance. Instead, the School Board uses an indirect cost rate that is approved and provided by the Louisiana Department of Education.
The Federal Expenditures reported on the SEFA of $46,473,224 are reconciled with federal grant revenues as noted below:
Total Federal Restricted grants-in-aid per Financial Statements $46,859,367
Less: Revenue recognized from amounts requested and collected in the current year for prior year expenditures (1,968,929)
Add: Prior year FEMA expenditures (Note F) not recognized until current year 1,582,786
Total Federal Expenditures reported on the SEFA $46,473,224
Title: Note E. Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Ascension Parish School Board (the School Board) and is presented using the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the School Board did not elect to use the 10% de minimis indirect cost rate as covered in Section 200.414 of the Uniform Guidance. Instead, the School Board uses an indirect cost rate that is approved and provided by the Louisiana Department of Education.
The School Board did not pass-through federal awards to subrecipients during the year ended June 30, 2024.
Title: Note F. Disaster Grants-Public Assistance AL #97.036
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Ascension Parish School Board (the School Board) and is presented using the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the School Board did not elect to use the 10% de minimis indirect cost rate as covered in Section 200.414 of the Uniform Guidance. Instead, the School Board uses an indirect cost rate that is approved and provided by the Louisiana Department of Education.
Non-Federal entities must record expenditures on the SEFA when: (1) Federal Emergency Management Agency (FEMA) has approved the non-Federal entity's project worksheet (PW), and (2) the non-Federal entity has incurred the eligible expenditures. In 2024, FEMA approved PW's that included $1,582,786 of eligible expenditures that were incurred in a prior year and are included in the current year Schedule.
Title: Note G. Community Development Block Grant AL #14.228
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Ascension Parish School Board (the School Board) and is presented using the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: During the year ended June 30, 2024, the School Board did not elect to use the 10% de minimis indirect cost rate as covered in Section 200.414 of the Uniform Guidance. Instead, the School Board uses an indirect cost rate that is approved and provided by the Louisiana Department of Education.
Amounts reported in the current year Schedule of $7,623,204 are for eligible expenditures that were incurred in prior years.