Audit 365445

Accounting Policies: Notes to Schedule of Expenditures of Federal Awards The School District did not utilize the 10% de minimis indirect cost rate. Title I, Part A $ 114,639 Title III, Part A 2,041 Title V, Part B 9,798 IDEA 611 771,747 Federal, state, and local expenditures were consolidated in a schoolwide plan for the fiscal year. The amounts of consolidated school wide plan expenditures, by program, are as follows: 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 . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements. MADISON COUNTY BOARD OF EDUCATION SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE FISCAL YEAR ENDED JUNE 30, 2024 (1) The amounts shown for the Food Distribution Program represents the federally assigned value of nonmonetary assistance for donated commodities received and/or consumed by the system during the current fiscal year. The Schedule of Expenditures of Federal Awards includes the federal grant activity of the Madison County Board of Education and is presented on the modified accrual basis of accounting. 71 De Minimis Rate Used: N Rate Explanation: The School District did not utilize the 10% de minimis indirect cost rate.