Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments (codified in 2 CFR Part 225), or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. (2) The District did not elect to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: (2) The District did not elect to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the District 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 (CFR) 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 the District, it is not intended to and does not present the financial position or changes in financial position of the District.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments (codified in 2 CFR Part 225), or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. (2) The District did not elect to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: (2) The District did not elect to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments (codified in 2 CFR Part 225), or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. (2) The District did not elect to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 3 – FOOD DISTRIBUTION
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments (codified in 2 CFR Part 225), or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. (2) The District did not elect to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: (2) The District did not elect to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the schedule at the fair value of the commodities disbursed. Per USDA instructions, commodities expended are recorded at an amount equal to commodities received and the inventory at June 30, 2024 is combined with purchased food inventory. The passthrough number for the commodities program was not available for the Schedule of Expenditures of Federal Awards.
Title: NOTE 4 - RECONCILIATION OF SCHEDULE TO FINANCIAL STATEMENTS
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments (codified in 2 CFR Part 225), or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. (2) The District did not elect to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: (2) The District did not elect to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The following is a reconcilement of the total in the schedule of expenditures of federal awards to the total federal revenue included in the statement of revenues, expenditures and changes in fund balances – governmental funds and in the statement of revenues, expenses and changes in net position – proprietary funds.