Title: Note A - Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Livingston Parish School Board and is presented on the 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
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The School Board did not elect to use the 10% de minimis indirect cost rate during the year ended June 30, 2024.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Livingston Parish School Board and is presented on the 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
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards.
Title: Note B - Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Livingston Parish School Board and is presented on the 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
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The School Board did not elect to use the 10% de minimis indirect cost rate during the year ended June 30, 2024.
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual
basis of accounting, which is described in Note 1 to the School Board's financial statements or under
specific reporting methods required by certain awards.
Title: Note C - Food Distribution Program
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Livingston Parish School Board and is presented on the 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
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The School Board did not elect to use the 10% de minimis indirect cost rate during the year ended June 30, 2024.
The commodities received is considered noncash assistance and 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 $1,723,859. At June 30, 2024, the organization had food commodities
totaling $217,076 in inventory.
Title: Note D - Indirect Cost Rate Election
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Livingston Parish School Board and is presented on the 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
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The School Board did not elect to use the 10% de minimis indirect cost rate during the year ended June 30, 2024.
The School Board did not elect to use the 10% de minimis indirect cost rate during the year ended June
30, 2024.
Title: Note E - Relationship to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Livingston Parish School Board and is presented on the 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
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The School Board did not elect to use the 10% de minimis indirect cost rate during the year ended June 30, 2024.
Federal awards expenditures are reported in the School Board's financial statements as follows: General Fund $70,505 Disaster Fund 2,308,713 Nonmajor Governmental: Elementary Secondary Education Act Title I 6,245,693 Special Education 5,408,074 Education Stabilization Fund 9,879,037 Maintenance of Schools 197,874 School Lunch 17,214,073 Sepcial Federal 1,3469,472 Other Federal ESEA 2504,171 Total Federal Revenues $45,174,612 Less: Revenues reported in the current year on disaster expenditures reported in a prior year $(2,155,105) Total Federal expenditures $43,019,507.
Title: Note F - Matching Revenues
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Livingston Parish School Board and is presented on the 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
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The School Board did not elect to use the 10% de minimis indirect cost rate during the year ended June 30, 2024.
For those funds that have matching revenues and state funding, federal expenditures were determined by
deducting matching revenues from total expenditures.
Title: Note G – Amounts Passed Through to Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Livingston Parish School Board and is presented on the 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
(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The School Board did not elect to use the 10% de minimis indirect cost rate during the year ended June 30, 2024.
During the year ended June 30, 2024, the School Board did not pass through any federal funding to
subrecipients.