Title: NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of
Expenditures of Federal Awards (the “Schedule”) includes the federal award
activity of the Ouachita Parish School Board (the School Board), West Monroe,
Louisiana under programs of the federal government for the year ended June
30, 2024. 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the Financial Statements of the School
Board's Annual Comprehensive Financial Report. Federal awards received
directly from federal agencies, as well as federal awards passed through other
government agencies, are included on the Schedule. Because the Schedule
presents only a selected portion of the operations of the School Board, it is
not intended to and does not present the financial positon, changes in fund
balances, or cash flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule is presented using the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the Financial
Statements of the School Board's Annual Comprehensive Financial Report.
Such expenditures are recognized following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: he School Board has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTS Federal
awards revenues are reported in the School Board's basic financial
statements as follows:
Funds
Major Funds:
General 333,011
Education Stabilization 24,732,223
Nonmajor Funds:
School Food Service 11,614,191
Title I Programs 7,084,249
Special Education IDEA-B 5,249,620
Other Federal Programs 1,512,063
Total Federal Sources $ 50,525,357
Title: NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of
Expenditures of Federal Awards (the “Schedule”) includes the federal award
activity of the Ouachita Parish School Board (the School Board), West Monroe,
Louisiana under programs of the federal government for the year ended June
30, 2024. 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the Financial Statements of the School
Board's Annual Comprehensive Financial Report. Federal awards received
directly from federal agencies, as well as federal awards passed through other
government agencies, are included on the Schedule. Because the Schedule
presents only a selected portion of the operations of the School Board, it is
not intended to and does not present the financial positon, changes in fund
balances, or cash flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule is presented using the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the Financial
Statements of the School Board's Annual Comprehensive Financial Report.
Such expenditures are recognized following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: he School Board has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS Amounts
reported in the accompanying schedule agree with the amounts
reported in the related federal basic financial reports except for
changes made to reflect amounts in accordance with accounting
principles generally accepted in the United States of America.
Title: NOTE 5 - MAJOR FEDERAL AWARDS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of
Expenditures of Federal Awards (the “Schedule”) includes the federal award
activity of the Ouachita Parish School Board (the School Board), West Monroe,
Louisiana under programs of the federal government for the year ended June
30, 2024. 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the Financial Statements of the School
Board's Annual Comprehensive Financial Report. Federal awards received
directly from federal agencies, as well as federal awards passed through other
government agencies, are included on the Schedule. Because the Schedule
presents only a selected portion of the operations of the School Board, it is
not intended to and does not present the financial positon, changes in fund
balances, or cash flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule is presented using the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the Financial
Statements of the School Board's Annual Comprehensive Financial Report.
Such expenditures are recognized following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: he School Board has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
NOTE 5 - MAJOR FEDERAL AWARDS For those funds that have
matching revenues and state funding, federal expenditures were
determined by deducting matching revenues from total
expenditures.
Title: NOTE 6 - NONCASH PROGRAMS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of
Expenditures of Federal Awards (the “Schedule”) includes the federal award
activity of the Ouachita Parish School Board (the School Board), West Monroe,
Louisiana under programs of the federal government for the year ended June
30, 2024. 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the Financial Statements of the School
Board's Annual Comprehensive Financial Report. Federal awards received
directly from federal agencies, as well as federal awards passed through other
government agencies, are included on the Schedule. Because the Schedule
presents only a selected portion of the operations of the School Board, it is
not intended to and does not present the financial positon, changes in fund
balances, or cash flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule is presented using the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the Financial
Statements of the School Board's Annual Comprehensive Financial Report.
Such expenditures are recognized following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: he School Board has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
NOTE 6 - NONCASH PROGRAMS The commodities received, which
are noncash revenues, are valued using prices provided by the
United States Department of Agriculture.
Title: NOTE 7 - INDIRECT COST RATE
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of
Expenditures of Federal Awards (the “Schedule”) includes the federal award
activity of the Ouachita Parish School Board (the School Board), West Monroe,
Louisiana under programs of the federal government for the year ended June
30, 2024. 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the Financial Statements of the School
Board's Annual Comprehensive Financial Report. Federal awards received
directly from federal agencies, as well as federal awards passed through other
government agencies, are included on the Schedule. Because the Schedule
presents only a selected portion of the operations of the School Board, it is
not intended to and does not present the financial positon, changes in fund
balances, or cash flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule is presented using the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the Financial
Statements of the School Board's Annual Comprehensive Financial Report.
Such expenditures are recognized following the cost principles contained in the
Uniform Guidance, wherein certain types of expenditures are not allowable or
are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: he School Board has elected not to use the 10-percent de minimis indirect cost
rate allowed under the Uniform Guidance.
NOTE 7 - INDIRECT COST RATE The School Board has elected not to
use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.