Title: Reconciliation to Basic Financial Statements
Accounting Policies: Information provided in the Schedule of Expenditures of Federal Awards (SEFA) is presented on the basis consistent with that of the basic financial statements. For amounts recorded in the general fund, expenditures are recognized in the accounting period in which the fund liability is incurred. Revenues are recognized in the period in which they become both measurable and available which, for federal funds, is when the related expenditure is incurred.
De Minimis Rate Used: N
Rate Explanation: The Intermediate Unit did not elect to use the de minimis 10% indirect cost rate.
Federal Revenue Recognized per Schedule of Expenditures of Federal Awards $15,631,350 Add: Medical Assistance-ACCESS $855,503 Add: Emergency Assistance to Nonpublic Schools (EANS) $1,268,553. Federal Revenue Recognized in Basic Financial Statements $17,755,406.
Title: Identification of Major Federal Award Programs
Accounting Policies: Information provided in the Schedule of Expenditures of Federal Awards (SEFA) is presented on the basis consistent with that of the basic financial statements. For amounts recorded in the general fund, expenditures are recognized in the accounting period in which the fund liability is incurred. Revenues are recognized in the period in which they become both measurable and available which, for federal funds, is when the related expenditure is incurred.
De Minimis Rate Used: N
Rate Explanation: The Intermediate Unit did not elect to use the de minimis 10% indirect cost rate.
An extensive compliance test, as required by the Uniform Guidance, was performed on the Special Education Cluster (Special Education-Grants to States; Special Education-Preschool Grants), and the Education Stabilization Funds, which represents 92% of the total expenditures reflected on the Schedule of Expenditures of Federal Awards. Special Education Cluster-Grants to States; Special Education-Preschool Grants 84.027/84.173 Cluster $14,204,219; Americorps 94.006 $1,019,467; Education Stabilization Funds 84.425C/84.425D/84.425U $247,937; Improving Teacher Quality State Grants 84.367 $113,443; Title I Grants to Local Educational Agencies 84.010 $43,764; Medical Assistance Programs 93.778 $2,520. Total Federal Awards $15,631,350 X 20% = $3,126,270-Minimum Amount Which Must Be Tested. The Special Education Cluster (Special Education-Grants to States; Special Education-Preschool Grants), and the Education Stabilization Funds exceed $3,126,270, and, therefore, represents the programs which the specific compliance requirements must be applied.
Title: Emergency Assistance to Nonpublic School (EANS) Program
Accounting Policies: Information provided in the Schedule of Expenditures of Federal Awards (SEFA) is presented on the basis consistent with that of the basic financial statements. For amounts recorded in the general fund, expenditures are recognized in the accounting period in which the fund liability is incurred. Revenues are recognized in the period in which they become both measurable and available which, for federal funds, is when the related expenditure is incurred.
De Minimis Rate Used: N
Rate Explanation: The Intermediate Unit did not elect to use the de minimis 10% indirect cost rate.
The Intermediate Unit was instructed not to include EANS funding on the Schedule of Expenditures of Federal Awards. These reimbursements are classified as federal money in the Intermediate Unit's account code structure. Expenditures totaling $1,268,553 were recognized in the current year and received $1,566,091. The Intermediate Unit had $16,905 of deferred revenue for the EANS program as of June 30, 2021. This amount was included on the June 30, 2021 Schedule of Expenditures of Federal Awards. As a result, as of June 30, 2022, the Intermediate Unit had deferred revenue of $314,443 for the EANS funds.
Title: Restatement of Accrued Revenue at June 30, 2021
Accounting Policies: Information provided in the Schedule of Expenditures of Federal Awards (SEFA) is presented on the basis consistent with that of the basic financial statements. For amounts recorded in the general fund, expenditures are recognized in the accounting period in which the fund liability is incurred. Revenues are recognized in the period in which they become both measurable and available which, for federal funds, is when the related expenditure is incurred.
De Minimis Rate Used: N
Rate Explanation: The Intermediate Unit did not elect to use the de minimis 10% indirect cost rate.
The June 30, 2021 Accrued Revenue for the following two programs were adjusted to agree to the pass-through entity's records. Title I Grants to Local Education Agencies 84.010 149-21-0608 07/01/20-09/30/21 as previously reported $1,728, restated $15,928. Education Stabilization Fund 84.425D 149-21-0608 07/01/20-09/30/21 as previously reported $35,850, restated $21,650.