Title: NOTE 2 – PROGRAM REPORTING
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of RomaIndependent School District. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended August 31, 2024, the District did not elect to use this rate.
SHARS, $25,180 of Summer LEP School and $1,099,919 in indirect cost are accounted for in the general fund. The National School Lunch Program, School Breakfast Program Commodity Supplemental Food Program, and Summer Feeding Program are accounted for in the National Breakfast and Lunch Program. Expenditures are not specifically attributable to these revenues and are shown on this schedule in an amount equal to revenue for balancing purposes only.
Reconciliation:
Amount of federal revenues Exhibit C-3 $21,864,063
Less amounts not considered to be federal awards, excluded on the Schedule of Expenditures of Federal Awards:
School Health and Related Services Program (SHARS) (458,069)
Total expenditures of federal awards, per Schedule of Expenditures of Federal Awards (Exhibit K-1) $21,405,994
Title: NOTE 3 – SUB-RECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of RomaIndependent School District. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended August 31, 2024, the District did not elect to use this rate.
During the year ended August 31, 2024, the Roma Independent School District had no sub-recipients.
Title: NOTE 3 – FEDERAL LOANS AND LOAN GUARANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of RomaIndependent School District. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended August 31, 2024, the District did not elect to use this rate.
During the year ended August 31, 2024, the District had no outstanding federal loans payable or loan guarantees.
Title: NOTE 4 – FEDERALLY FUNDED INSURANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of RomaIndependent School District. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended August 31, 2024, the District did not elect to use this rate.
During the year ended August 31, 2024, the District had no federally funded insurance.
Title: NOTE 6 – NONCASH AWARDS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of RomaIndependent School District. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended August 31, 2024, the District did not elect to use this rate.
During the year ended August 31, 2024, the District received $436,510 of federal awards in the form of noncash assistance.