Notes to SEFA
Title: Non- Cash Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Cloudcroft Municipal Schools for the year ended June 30, 2022 and is presented on the accrual basis of accounting. 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 only presents a selected portion of the operations of the District, it is not intended to and does not present the financial position or changes in net position of the Cloudcroft Municipal Schools.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District receives USDA Commodities for use in sponsoring the National School Lunch and Breakfast programs. The value of commodities received for the year ended June 30, 2022 was $262,926 and is reported in the Schedule of Expenditures of Federal Awards under the Department of Agriculture Commodities program, Assistance listing number 10.555.
Title: Sub Recipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Cloudcroft Municipal Schools for the year ended June 30, 2022 and is presented on the accrual basis of accounting. 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 only presents a selected portion of the operations of the District, it is not intended to and does not present the financial position or changes in net position of the Cloudcroft Municipal Schools.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District provided no federal awards to sub recipients for the year ended June 30, 2022.