Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of
Expenditures of Federal Awards includes the federal award activity of the
Lincoln Parish School Board, (the School Board) Ruston, 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. 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 position, changes in net position, or cash
flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule of Expenditures of Federal Awards 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: The School Board has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards
includes the federal award activity of the Lincoln Parish School Board, (the School Board) Ruston, 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. 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 position, changes in net position, or cash flows
of the School Board.
Title: NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of
Expenditures of Federal Awards includes the federal award activity of the
Lincoln Parish School Board, (the School Board) Ruston, 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. 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 position, changes in net position, or cash
flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule of Expenditures of Federal Awards 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: The School Board has elected not to use the 10-percent de minimis indirect
cost rate allowed under the Uniform Guidance.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying Schedule of
Expenditures of Federal Awards 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.
Title: NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of
Expenditures of Federal Awards includes the federal award activity of the
Lincoln Parish School Board, (the School Board) Ruston, 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. 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 position, changes in net position, or cash
flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule of Expenditures of Federal Awards 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: The 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:
Federal Sources
Major Funds:
General fund $1,424
Education stabilization funds 12,271,636
Title I 4,201,659
Nonmajor Funds:
Special education programs 2,153,143
School food service 3,065,464
Other miscellaneous 1,183,308
Total federal expenditures 22,876,634
Title: NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of
Expenditures of Federal Awards includes the federal award activity of the
Lincoln Parish School Board, (the School Board) Ruston, 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. 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 position, changes in net position, or cash
flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule of Expenditures of Federal Awards 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: The 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 includes the federal award activity of the
Lincoln Parish School Board, (the School Board) Ruston, 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. 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 position, changes in net position, or cash
flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule of Expenditures of Federal Awards 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: The 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 includes the federal award activity of the
Lincoln Parish School Board, (the School Board) Ruston, 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. 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 position, changes in net position, or cash
flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule of Expenditures of Federal Awards 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: The 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 includes the federal award activity of the
Lincoln Parish School Board, (the School Board) Ruston, 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. 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 position, changes in net position, or cash
flows of the School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The
accompanying Schedule of Expenditures of Federal Awards 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: The 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.