Title: NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of
expenditures of federal awards (the “Schedule”) includes the federal
award activity of DeSoto Parish School Board 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the financial statements of the School
Board's Annual Comprehensive Financial Report. Because the Schedule
presents only a selected portion of the operations of DeSoto Parish School
Board, it is not intended to and does not present the financial position,
changes in net position, or cash flows of DeSoto Parish School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures
reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the financial
statements of the School Board's Annual Comprehensive Financial Report.
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: DeSoto Parish School Board has elected not to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Federal awards revenues are reported in the School Board's
financial statements as follows:
Major Fund:
General Fund $ 79,046
Education Stabilization Fund 7,929,244
Nonmajor Fund:
Educational Consolidation & Improvement Act - Title I 1,601,188
Improving Teacher Quality - Title II 223,957
Special Education 1,296,831
Title IV A-SSAE 75,066
Jobs for America's Graduates 137,154
School Food Service 2,790,100
Vocational Grants 79,462
Early Childhood Development 140,470
Homeless Assistance 38,180
Rural Education 119,928
Total per Statement E $ 14,510,626
Title: NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of
expenditures of federal awards (the “Schedule”) includes the federal
award activity of DeSoto Parish School Board 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the financial statements of the School
Board's Annual Comprehensive Financial Report. Because the Schedule
presents only a selected portion of the operations of DeSoto Parish School
Board, it is not intended to and does not present the financial position,
changes in net position, or cash flows of DeSoto Parish School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures
reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the financial
statements of the School Board's Annual Comprehensive Financial Report.
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: DeSoto Parish School Board has elected not to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Amounts reported in the accompanying schedule agree with the
amounts reported in the related federal financial reports except
for changes made to reflect amounts in accordance with
accounting principles generally accepted in the United States of
America.
Title: NOTE 5 - MATCHING REVENUES
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of
expenditures of federal awards (the “Schedule”) includes the federal
award activity of DeSoto Parish School Board 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the financial statements of the School
Board's Annual Comprehensive Financial Report. Because the Schedule
presents only a selected portion of the operations of DeSoto Parish School
Board, it is not intended to and does not present the financial position,
changes in net position, or cash flows of DeSoto Parish School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures
reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the financial
statements of the School Board's Annual Comprehensive Financial Report.
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: DeSoto Parish School Board has elected not to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
NOTE 5 - MATCHING REVENUES For those funds that have
matching revenues and state funding, federal expenditures
were determined by deducting matching revenues from total
expenditures.
Title: NOTE 6 - NONCASH PROGRAMS
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of
expenditures of federal awards (the “Schedule”) includes the federal
award activity of DeSoto Parish School Board 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the financial statements of the School
Board's Annual Comprehensive Financial Report. Because the Schedule
presents only a selected portion of the operations of DeSoto Parish School
Board, it is not intended to and does not present the financial position,
changes in net position, or cash flows of DeSoto Parish School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures
reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the financial
statements of the School Board's Annual Comprehensive Financial Report.
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: DeSoto Parish School Board has elected not to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
NOTE 6 - NONCASH PROGRAMS The commodities received,
which are noncash revenues, are valued using prices provided by
the United States Department of Agriculture.
Title: NOTE 7 - INDIRECT COST RATE
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION The accompanying schedule of
expenditures of federal awards (the “Schedule”) includes the federal
award activity of DeSoto Parish School Board 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). The School Board's reporting entity is
defined in Note 1 of the Notes to the financial statements of the School
Board's Annual Comprehensive Financial Report. Because the Schedule
presents only a selected portion of the operations of DeSoto Parish School
Board, it is not intended to and does not present the financial position,
changes in net position, or cash flows of DeSoto Parish School Board.
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures
reported on the Schedule are reported on the modified accrual basis of
accounting, which is described in Note 1 of the Notes to the financial
statements of the School Board's Annual Comprehensive Financial Report.
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: DeSoto Parish School Board has elected not to use the 10-percent de
minimis indirect cost rate allowed under the Uniform Guidance.
NOTE 7 - INDIRECT COST RATE DeSoto Parish School Board has
elected not to use the 10-percent de minimis indirect cost rate
allowed under the Uniform Guidance.