Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Bangor Public Schools under programs of the federal government for the year ended June 30, 2025. 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 Bangor Public Schools, it is not intended to and does not present the financial position or changes in net position of Bangor Public Schools. Management has utilized NexSys, the Cash Management System, and the Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards.
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Bangor Public Schools has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Federal expenditures are reported as revenue in the following funds in the financial statements for the year ended June 30, 2025: General fund $ 1,201,916 Other nonmajor governmental funds 1,251,458 Total federal revenue in the fund financial statements 2,453,374 Less: Prior year federal expenditures incurred but not reported on SEFA (37,067) Expenditures per schedule of expenditures of federal awards $ 2,416,307 Federal accrued revenue reported in the schedule of expenditures of federal awards is comprised of the following: Amounts due from other governmental units $ 866,800 Amounts due to State of Michigan (60,427) Total accrued revenue per schedule of expenditures of federal awards $ 806,373
Adjustments were made for Assistance Listing #84.011 ($37,067) for prior year federal expenditures incurred but not reported on the prior year SEFA.