Title: GENERAL
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The District’s significant account policies, including the modified accrual basis of accounting,
are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the de minimis indirect cost rate allowed
under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal award
programs of Groesbeck Independent School District (the “District”). The District’s reporting entity is
defined in Note I of the financial statements. Federal awards received directly from federal agencies, as
well as federal awards passed through other government agencies, are included on the Schedule of
Expenditures of Federal Awards.
Title: BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The District’s significant account policies, including the modified accrual basis of accounting,
are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the de minimis indirect cost rate allowed
under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The District’s significant account policies, including the modified accrual basis of accounting,
are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the financial statements.
Title: INDIRECT COSTS
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The District’s significant account policies, including the modified accrual basis of accounting,
are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the de minimis indirect cost rate allowed
under the Uniform Guidance.
Groesbeck Independent School District has elected not to use the de minimis indirect cost rate allowed
under the Uniform Guidance.
Title: RECONCILIATION OF FEDERAL REVENUES
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The District’s significant account policies, including the modified accrual basis of accounting,
are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the de minimis indirect cost rate allowed
under the Uniform Guidance.
The following is the reconciliation of federal revenues and the Schedule of Expenditures of Federal
Awards for the year ended August 31, 2024:
Federal revenues per the Statement of Revenues,
Expenditures and Changes in Fund Balance -
Government Funds (Exhibit C-3) $ 2,055,916
SHARS funds not reported on SEFA (163,811)
Expenditures reported under ALN 81.041 were for
a loan program and, thus, were reported as
proceeds of long-term debt, not federal revenue. 1,888,168
Federal expenditures, per SEFA $ 3,780,273
Title: PASS-THROUGH EXPENDITURES
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The District’s significant account policies, including the modified accrual basis of accounting,
are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the de minimis indirect cost rate allowed
under the Uniform Guidance.
None of the expenditures reported on the Schedule of Expenditures of Federal Awards were passed
through to subrecipients.
Title: STATE ENERGY PROGRAM (ALN 81.041)
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of
accounting. The District’s significant account policies, including the modified accrual basis of accounting,
are presented in Note 1 of the basic financial statements. The information in the 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). Therefore, some of the amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Groesbeck Independent School District has elected not to use the de minimis indirect cost rate allowed
under the Uniform Guidance.
The State Energy Conservation Office receives an annual grant from the U.S. Department of Energy
(DOE) to provide funds for the State Energy Program (SEP). A portion of these funds were loaned to the
District at a low-interest rate to purchase energy-saving equipment. As of year-end, the District had an
outstanding loan balance of $1,888,168.