Title: General and Basis of Presentation
Accounting Policies: Expenditures on the Schedule are reported on the modified accrual basis of accounting since grants are accounted for in the governmental fund types of the District. Such expenditures are reported following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to recover its indirect costs using the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of The School District of Palm Beach County, Florida (the District) under programs of the federal government for the year ending June 30, 2024. The District's reporting entity is defined in Note 1 of the District's basic financial statements. All federal awards received directly from federal and indirectly through state agencies, as well as amounts passed through other governmental agencies are included in the accompanying schedule of expenditures of federal awards. Because the schedule presents only a selected portion of the expenditures of the District, it is not intended to and does not present the financial position, changes in net position/fund balance or cash flows of the 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 amount presented in, or used in the preparation of, the basic financial statements.
Title: Basis of Accounting
Accounting Policies: Expenditures on the Schedule are reported on the modified accrual basis of accounting since grants are accounted for in the governmental fund types of the District. Such expenditures are reported following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to recover its indirect costs using the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures on the Schedule are reported on the modified accrual basis of accounting since grants are accounted for in the governmental fund types of the District. Such expenditures are reported following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Recovery
Accounting Policies: Expenditures on the Schedule are reported on the modified accrual basis of accounting since grants are accounted for in the governmental fund types of the District. Such expenditures are reported following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to recover its indirect costs using the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The District has elected not to recover its indirect costs using the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Noncash Awards
Accounting Policies: Expenditures on the Schedule are reported on the modified accrual basis of accounting since grants are accounted for in the governmental fund types of the District. Such expenditures are reported following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to recover its indirect costs using the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
(A) National School Lunch Program ALN #10.555 and Summer Food Service Program ALN #10.559: includes $5,882,298 and $903,577, respectively, of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation. (B) Emergency Connectivity Fund ALN #32.009: includes $324,086 of services received during the fiscal year. Donated services are valued at fair value as determine at the time of donation.