Title: Basis of Presentation
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Saginaw Intermediate School District under programs of the federal government for the 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 Saginaw Intermediate School District, it is not intended to and does not present the financial position and changes in financial positions, of the Saginaw Intermediate School District.
Title: Reconciliation to the Financial Statements
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures per the schedule of expenditures of federal awards: $24,184,655, Current year deferred inflows of resources: AL #84.027 210450 PL 94-142 Flow-Through 2020-21: $(510,690), AL #93.434 PDG B-56 Preschool Development Grant Birth through Five 2021-22: $(13,217), Total current year deferred inflows of resources: $(523,907), Federal revenues per the financial statements: $23,660,748.
Title: Michigan Department of Education Disclosures
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The federal amounts reported on the grant auditor report are in agreement with the schedule of expenditures of federal awards except for the following timing difference of when the deposit was made: 221971 Seamless Summer Option (SSO) Breakfast, Receipts per GAR: $54,449, Receipts per SEFA: $45,196, Difference: $9,253. 221961Seamless Summer Option (SSO) Lunch, Receipts per GAR: $96,899, Receipts per SEFA: $79,589, Difference: $17,310. Total, Receipts per GAR: $151,348, Receipts per SEFA: $124,785, Difference: $26,563. The amounts reported on the recipient entitlement balance report agree with the schedule of expenditures of federal awards for U.S.D.A. donated food commodities.
Title: Title 1, Neglected & Delinquent Grant
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
In the prior year, the Neglected & Delinquent grant was listed under assistance listing number 84.013. In the current year, the same grant was listed as assistance listing number 84.010 on the Grant Auditor Report.