Title: Summary of Significant Accounting Policies
Accounting Policies: (1.)Basis of Presentation. The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the Broward County District School Board under programs of the Federal Government for the fiscal 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 the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. (2.)Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following as applicable, either the cost principles in Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (3.)Indirect Cost Rate. The District has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance. (4.)Noncash Assistance - National School Lunch Program - Includes $9,493,631.80 of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation. (5.)Head Start. Expenditures include $4,526,918.13 for grant number/program year 04CH011046-03 and $12,919,348.79 for grant number/program year 04CH011046-04.(6.)Disaster Grants - Public Assistance (Presidentially Declared Disaster). The District incurred $468,370 in expenditures for the Disaster Grants - Public Assistance (Presidentially Declared Disaster) grant in the 2005-06, 2016-17, and 2017-18 fiscal years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
(2.)Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following as applicable, either the cost principles in Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Non Cash Assistance- National School Lunch Program
Accounting Policies: (1.)Basis of Presentation. The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the Broward County District School Board under programs of the Federal Government for the fiscal 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 the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. (2.)Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following as applicable, either the cost principles in Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (3.)Indirect Cost Rate. The District has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance. (4.)Noncash Assistance - National School Lunch Program - Includes $9,493,631.80 of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation. (5.)Head Start. Expenditures include $4,526,918.13 for grant number/program year 04CH011046-03 and $12,919,348.79 for grant number/program year 04CH011046-04.(6.)Disaster Grants - Public Assistance (Presidentially Declared Disaster). The District incurred $468,370 in expenditures for the Disaster Grants - Public Assistance (Presidentially Declared Disaster) grant in the 2005-06, 2016-17, and 2017-18 fiscal years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
(4.)Noncash Assistance - National School Lunch Program - Includes $9,493,631.80 of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation.
Title: Head Start
Accounting Policies: (1.)Basis of Presentation. The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the Broward County District School Board under programs of the Federal Government for the fiscal 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 the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. (2.)Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following as applicable, either the cost principles in Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (3.)Indirect Cost Rate. The District has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance. (4.)Noncash Assistance - National School Lunch Program - Includes $9,493,631.80 of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation. (5.)Head Start. Expenditures include $4,526,918.13 for grant number/program year 04CH011046-03 and $12,919,348.79 for grant number/program year 04CH011046-04.(6.)Disaster Grants - Public Assistance (Presidentially Declared Disaster). The District incurred $468,370 in expenditures for the Disaster Grants - Public Assistance (Presidentially Declared Disaster) grant in the 2005-06, 2016-17, and 2017-18 fiscal years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
(5.)Head Start. Expenditures include $4,526,918.13 for grant number/program year 04CH011046-03 and $12,919,348.79 for grant number/program year 04CH011046-04.
Title: Disaster Grants
Accounting Policies: (1.)Basis of Presentation. The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the Broward County District School Board under programs of the Federal Government for the fiscal 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 the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District. (2.)Summary of Significant Accounting Policies. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following as applicable, either the cost principles in Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (3.)Indirect Cost Rate. The District has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance. (4.)Noncash Assistance - National School Lunch Program - Includes $9,493,631.80 of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation. (5.)Head Start. Expenditures include $4,526,918.13 for grant number/program year 04CH011046-03 and $12,919,348.79 for grant number/program year 04CH011046-04.(6.)Disaster Grants - Public Assistance (Presidentially Declared Disaster). The District incurred $468,370 in expenditures for the Disaster Grants - Public Assistance (Presidentially Declared Disaster) grant in the 2005-06, 2016-17, and 2017-18 fiscal years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
(6.)Disaster Grants - Public Assistance (Presidentially Declared Disaster). The District incurred $468,370 in expenditures for the Disaster Grants - Public Assistance (Presidentially Declared Disaster) grant in the 2005-06, 2016-17, and 2017-18 fiscal years.