Title: General
Accounting Policies: The schedule of expenditures of federal awards is presented using the modified accrual
basis of accounting, which is described in the notes to the School Board's basic financial
statements for the year ended June 30, 2024. Commodities received, which are non-cash
revenue, are valued at prices provided by the U.S. Department of Agriculture. Any
received but unused commodities are recorded as deferred revenue until used.
De Minimis Rate Used: N
Rate Explanation: The St. Tammany Parish School Board uses an indirect cost rate negotiated and approved
by the Louisiana Department of Education, and has not elected to use the 10% de minimis
indirect cost rate as provided for in Section 200.414 of the Uniform Guidance.
The accompanying schedule of expenditures of federal awards presents the activity of all
federal awards programs of the St. Tammany Parish School Board (the School Board).
The School Board reporting entity is defined in the notes to the financial statements for
the year ended June 30, 2024. All federal awards received directly from federal agencies
are included on the schedule as well as federal awards passed through other government
agencies. For the year ended June 30, 2024, the following programs are considered major
programs of the School Board for single audit purposes:
Name of Federal Program or Cluster Assistance Listing Number
Child Nutrition Cluster 10.555
COVID-19 – Education Stabilization Fund 84.425
Title: Basis of Accounting
Accounting Policies: The schedule of expenditures of federal awards is presented using the modified accrual
basis of accounting, which is described in the notes to the School Board's basic financial
statements for the year ended June 30, 2024. Commodities received, which are non-cash
revenue, are valued at prices provided by the U.S. Department of Agriculture. Any
received but unused commodities are recorded as deferred revenue until used.
De Minimis Rate Used: N
Rate Explanation: The St. Tammany Parish School Board uses an indirect cost rate negotiated and approved
by the Louisiana Department of Education, and has not elected to use the 10% de minimis
indirect cost rate as provided for in Section 200.414 of the Uniform Guidance.
The schedule of expenditures of federal awards is presented using the modified accrual
basis of accounting, which is described in the notes to the School Board's basic financial
statements for the year ended June 30, 2024. Commodities received, which are non-cash
revenue, are valued at prices provided by the U.S. Department of Agriculture. Any
received but unused commodities are recorded as deferred revenue until used.
Title: Relationship to General Purpose Financial Statements
Accounting Policies: The schedule of expenditures of federal awards is presented using the modified accrual
basis of accounting, which is described in the notes to the School Board's basic financial
statements for the year ended June 30, 2024. Commodities received, which are non-cash
revenue, are valued at prices provided by the U.S. Department of Agriculture. Any
received but unused commodities are recorded as deferred revenue until used.
De Minimis Rate Used: N
Rate Explanation: The St. Tammany Parish School Board uses an indirect cost rate negotiated and approved
by the Louisiana Department of Education, and has not elected to use the 10% de minimis
indirect cost rate as provided for in Section 200.414 of the Uniform Guidance.
Federal award revenues are reported in the School Board's financial statements as
follows:
General Fund $ 692,348
Special Revenue Funds 92,778,235
Subtotal Federal Sources 93,470,583
FEMA Funds Received for prior year Expenditures (7,964)
Total Reported on Schedule of
Expenditures of Federal Awards $ 93,462,619
Title: Relationship to Federal Financial Reports
Accounting Policies: The schedule of expenditures of federal awards is presented using the modified accrual
basis of accounting, which is described in the notes to the School Board's basic financial
statements for the year ended June 30, 2024. Commodities received, which are non-cash
revenue, are valued at prices provided by the U.S. Department of Agriculture. Any
received but unused commodities are recorded as deferred revenue until used.
De Minimis Rate Used: N
Rate Explanation: The St. Tammany Parish School Board uses an indirect cost rate negotiated and approved
by the Louisiana Department of Education, and has not elected to use the 10% de minimis
indirect cost rate as provided for in Section 200.414 of the Uniform Guidance.
Amounts reported in the schedule of expenditures of federal awards agree with the
amounts reported in the related federal financial reports, except for the amounts in reports
submitted as of a date subsequent to June 30, 2024, which will differ from the schedule
by the amount of receivables as of June 30, 2024, liquidated to the dates of the reports.
Title: Indirect Cost Rate
Accounting Policies: The schedule of expenditures of federal awards is presented using the modified accrual
basis of accounting, which is described in the notes to the School Board's basic financial
statements for the year ended June 30, 2024. Commodities received, which are non-cash
revenue, are valued at prices provided by the U.S. Department of Agriculture. Any
received but unused commodities are recorded as deferred revenue until used.
De Minimis Rate Used: N
Rate Explanation: The St. Tammany Parish School Board uses an indirect cost rate negotiated and approved
by the Louisiana Department of Education, and has not elected to use the 10% de minimis
indirect cost rate as provided for in Section 200.414 of the Uniform Guidance.
The St. Tammany Parish School Board uses an indirect cost rate negotiated and approved
by the Louisiana Department of Education, and has not elected to use the 10% de minimis
indirect cost rate as provided for in Section 200.414 of the Uniform Guidance.