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 Webster 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). Because the Schedule presents only a
selected portion of the operation of the School Board, it is not intended to
and does not present the financial position or changes in net position of
the 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 Comprehensive Annual 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: The 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
basic financial statements as follows:
Major Funds: Federal Sources
General Fund $76,173
Title I 3,777,476
Education Stabilization 10,921,286
Nonmajor Funds:
School Food Service 3,605,030
Special Education 1,536,228
Other ESEA Funds 800,878
Special Federal Funds 241,949
Education Excellence 364,047
Comprehensive School Reform 52,589
Total $ 21,375,656
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 Webster 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). Because the Schedule presents only a
selected portion of the operation of the School Board, it is not intended to
and does not present the financial position or changes in net position of
the 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 Comprehensive Annual 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: The 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 Webster 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). Because the Schedule presents only a
selected portion of the operation of the School Board, it is not intended to
and does not present the financial position or changes in net position of
the 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 Comprehensive Annual 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: The 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 Webster 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). Because the Schedule presents only a
selected portion of the operation of the School Board, it is not intended to
and does not present the financial position or changes in net position of
the 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 Comprehensive Annual 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: The 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 Webster 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). Because the Schedule presents only a
selected portion of the operation of the School Board, it is not intended to
and does not present the financial position or changes in net position of
the 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 Comprehensive Annual 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: The 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 The School Board has elected not
to use the 10-percent de minimis indirect cost rate allowed
under the Uniform Guidance.