Audit 365969

Title: U.S. DEPARTMENT OF AGRICULTURE Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Martha's Vineyard Regional High School 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 2 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 Martha's Vineyard Regional High School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Martha's Vineyard Regional High School District. Summary of Significant 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. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Martha's Vineyard Regional High School District did not elect to use the 10-percent de minimis indirect cost rate identified in §200.414 of the Uniform Guidance. The amount reported for the National School Lunch Program – Noncash Assistance (Commodities) represents non-monetary assistance and is reported in the Schedule at the fair market value of the commodities received. The amounts reported for the National School Lunch Program – Cash Assistance and School Breakfast Program represent cash receipts from federal reimbursements.

Title: U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES Accounting Policies: Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Martha's Vineyard Regional High School 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 2 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 Martha's Vineyard Regional High School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Martha's Vineyard Regional High School District. Summary of Significant 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. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Martha's Vineyard Regional High School District did not elect to use the 10-percent de minimis indirect cost rate identified in §200.414 of the Uniform Guidance. The amount reported for the School-Based Medicaid Reimbursement Program represents federal reimbursements for Administrative Activity Claims.