Title: Note A – Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity
of Liberty Union-Thurston Local School District (the District) under programs of the federal government for the
year ended June 30, 2023. The information on this Schedule is prepared 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). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial position, changes in
net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity
of Liberty Union-Thurston Local School District (the District) under programs of the federal government for the
year ended June 30, 2023. The information on this Schedule is prepared 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). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial position, changes in
net position, or cash flows of the District.
Title: Note B – Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity
of Liberty Union-Thurston Local School District (the District) under programs of the federal government for the
year ended June 30, 2023. The information on this Schedule is prepared 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). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial position, changes in
net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may
or may not be allowable or may be limited as to reimbursement.
Title: Note C – Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity
of Liberty Union-Thurston Local School District (the District) under programs of the federal government for the
year ended June 30, 2023. The information on this Schedule is prepared 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). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial position, changes in
net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
Title: Note D – Child Nutrition Cluster
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity
of Liberty Union-Thurston Local School District (the District) under programs of the federal government for the
year ended June 30, 2023. The information on this Schedule is prepared 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). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial position, changes in
net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The District comingles cash receipts from the U.S. Department of Agriculture with similar State grants. When
reporting expenditures on this Schedule, the District assumes it expends federal monies first.
Title: Note E – Food Donation Program
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity
of Liberty Union-Thurston Local School District (the District) under programs of the federal government for the
year ended June 30, 2023. The information on this Schedule is prepared 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). Because the Schedule presents only a selected
portion of the operations of the District, it is not intended to and does not present the financial position, changes in
net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The District reports commodities consumed on the Schedule at the entitlement value. The District allocated
donated food commodities to the respective program that benefitted from the use of those donated food
commodities.