Audit 345800

Title: Note 1 - Basis of Presentation Accounting Policies: Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theschedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Regional Office of Education No. 32 has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Regional Office of Education No. 32 has not elected to use the 10 percent deminimis 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 the Regional Office of Education No. 32 under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Professional Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because this schedule presents only a selected portion of the operations of the Regional Office of Education No. 32, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Regional Office of Education No. 32.

Title: Note 2 - Summary of Significant Accounting Policies Accounting Policies: Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theschedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Regional Office of Education No. 32 has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Regional Office of Education No. 32 has not elected to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance. Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theschedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Regional Office of Education No. 32 has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Title: Note 3 - Insurance in Effect During the Year Accounting Policies: Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theschedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Regional Office of Education No. 32 has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Regional Office of Education No. 32 has not elected to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance. Property coverage for the office was $1,000,000, and general liability coverage was $1,000,000 per occurrence and $3,000,000 aggregate. All of the federal awards pay workers’ compensation, unemployment insurance, and medical insurance for the current fiscal year based on the employees and the amount of their pay expended by each federal award.

Title: Note 4 - Noncash Assistance Accounting Policies: Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theschedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Regional Office of Education No. 32 has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Regional Office of Education No. 32 has not elected to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance. This is not applicable as no federal awards were expended in the form of noncash assistance.

Title: Note 5 - Loan/Loans Guarantees/Interest Subsidies Accounting Policies: Expenditures reported on the schedule are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theschedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Regional Office of Education No. 32 has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The Regional Office of Education No. 32 has not elected to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance. This is not applicable as the entity did not have any loans/loan guarantees/interest subsidies outstanding at year-end.