Audit 348916

Title: Schedule of Expenditures of Federal Awards Accounting Policies: Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. 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. De Minimis Rate Used: N Rate Explanation: The Kosciusko School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. (1) Basis of Presentation The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Kosciusko School District under programs of the federal government for the year ended June 30, 2022. 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). Because the Schedule presents only a selected portion of the operations of the Kosciusko School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Kosciusko School District. (2) Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the same basis of accounting and the same significant accounting policies, as applicable, as those used for the financial statements; however, the expenditures include transfers out. 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. (3) Indirect Cost Rate The Kosciusko School District has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. (4) Other Items Donated commodities are included in the National School Lunch Program. E-rate funds have not been included on this schedule due to the fact the FCC considers the support to be in the form of providing a discount to the schools and libraries and does not consider the assistance to be direct financial support.