Title: Reporting Entity
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Maine School Administrative District No. 1 and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation, of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of federal financial assistance programs administered by the Maine School Administrative District No. 1, an entity as defined in the notes to the financial statements.
Title: Pass-through Programs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Maine School Administrative District No. 1 and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation, of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
Where the District receives funds from a government entity other than the federal government (pass-through), the funds are accumulated based upon the System for Award Management Federal Assistance Listing Number advised by the pass-through grantor.
Title: Non-monetary Federal Programs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Maine School Administrative District No. 1 and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation, of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The District is the recipient of federal financial assistance programs that do not result in cash receipts or disbursements, termed “non-monetary programs”. During the fiscal year ended June 30, 2024, the District received and disbursed $53,121 of commodities in the School Lunch Program. These commodities are reported in the schedule at fair market value.
Title: Matching Costs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Maine School Administrative District No. 1 and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation, of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
Matching costs that represent the Maine School Administrative District No. 1’s share of certain program costs, if any, are not included in the Schedule of Expenditures of Federal Awards.