Title: Contingencies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule), includes the federal award activity of Bridgeport Public Schools, Bridgeport, Nebraska, under programs of the federal government for the year ended August 31, 2022. 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 Bridgeport Public Schools, Bridgeport, Nebraska, it is not intended to and does not present the financial position, changes in net position, or cash flows of Bridgeport Public Schools, Bridgeport, Nebraska. The accompanying schedule of expenditures of federal awards is prepared on the basis of cash receipts and disbursements. Accordingly, receipts are recognized when cash is received and disbursements are recognized when cash is disbursed. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein 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.
Cash Disbursements - For certain federal programs, the District makes cash disbursements under the federal program specifically identified as federal program costs. For these federal programs, the District reports federal disbursements in the amount of cash disbursed and indirect costs claimed under the federal program.Cash Receipts - For certain federal programs, the District receives payment at specified rates per unit of service rendered or product distributed. For these federal programs, the District reports federal disbursements in the amount of cash received under the federal program.Value of Goods - For certain federal programs, the District receives goods for use. For these federal programs, the District reports disbursements at the value of goods received.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule), includes the federal award activity of Bridgeport Public Schools, Bridgeport, Nebraska, under programs of the federal government for the year ended August 31, 2022. 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 Bridgeport Public Schools, Bridgeport, Nebraska, it is not intended to and does not present the financial position, changes in net position, or cash flows of Bridgeport Public Schools, Bridgeport, Nebraska. The accompanying schedule of expenditures of federal awards is prepared on the basis of cash receipts and disbursements. Accordingly, receipts are recognized when cash is received and disbursements are recognized when cash is disbursed. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein 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 district disbursed no awards to subrecipients during the year.