Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following reconciled the federal revenue reported in the June 30, 2022 financial statements to the expenditures on Romeo Community Schools administered federal programs reported on the schedule of expenditures of federal awards: Federal expenditures per the schedule of expenditures of federal awards: $6,632,503, Child Care Relief Fund Grants received as a beneficiary: $813,688, Federal revenue per the financial statements: $7,446,191.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No amounts were provided to subrecipients.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Romeo Community Schools under programs of the federal government for the year ended June 30, 2022. 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 Romeo Community Schools, it is not intended to and does not present the financial position and changes in financial positions of Romeo Community Schools.
Title: Michigan Department of Education Disclosures
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The federal amounts reported on the grant auditor report are in agreement with the schedule of expenditures of federal awards except for the following difference caused by the timing of cash receipts: Federal Grantor Program Title: COVID-19 Seamless Summer Option (SSO) Breakfast 2021-22, Federal Assistance Listing Number: 10.553, Grant Number: 221971, Report on Grantor Auditor Report: $547,779, Reported on Schedule of Expenditures of Federal Awards: $519,548, Variance: $28,231. National School Lunch Program - After School Snack 2021-22, Federal Assistance Listing Number: 10.555, Grant Number: 221980, Report on Grantor Auditor Report: $8,661, Reported on Schedule of Expenditures of Federal Awards: $8,398, Variance: $263. COVID-19 Seamless Summer Option (SSO) Lunch 2021-22, Federal Assistance Listing Number: 10.555, Grant Number: 221961, Report on Grantor Auditor Report: $2,090,271, Reported on Schedule of Expenditures of Federal Awards: $2,016,751, Variance: $73,520. COVID-19 Elementary and Secondary School Emergency Relief Funds (ESSER I), Federal Assistance Listing Number: 84,425D, Grant Number: 203710, Report on Grantor Auditor Report: $325,957, Reported on Schedule of Expenditures of Federal Awards: $290,542, Variance: $35,415. The amounts reported on the recipient entitlement balance report agree with the schedule of expenditures of federal awards for U.S.D.A. donated food commodities.