Title: Note A: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ardmore School District No. I-19 Carter County, Oklahoma has elected not to use 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 Ardmore School District No. I-19 Carter County, Oklahoma 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 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 Ardmore School District No. I-19 Carter County, Oklahoma, it is not intended to and does not present the basic financial statements as listed in the table of contents, of Ardmore School District No. I-19 Carter County, Oklahoma.
Title: Note B: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ardmore School District No. I-19 Carter County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
Title: Note C: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ardmore School District No. I-19 Carter County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Ardmore School District No. I-19 Carter County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note D: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ardmore School District No. I-19 Carter County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Ardmore School District No. I-19 Carter County, Oklahoma did not have any awards that have been passed through to subrecipients.
Title: Note E: 97.036 FEMA Disaster Grants-Public Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on using the cash basis of accounting. Encumbrances are included when paid rather when incurred. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement. Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: Ardmore School District No. I-19 Carter County, Oklahoma has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
On May 12, 2022, the District entered into a State-Local Agreement with the Oklahoma Department of Emergency Management based upon damages resulting from severe winter storms that occurred February 8, 2021 through February 20, 2021. The United States President declared the DR 4587 Severe Winter Storms disaster on February 24, 2021. The District received $500 from the Oklahoma Department of Emergency Management in FY24, based upon expenditures that occurred during the fiscal year ended June 30, 2021. Therefore $500 of expenditures noted above were related to prior years, but not recorded on SEFA until revenues were received during FY24.