The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Livingston Independent School District and is presented on the modified accrual basis of accounting.
The information in this schedule is presented on the modified accrual basis of accounting. The
information in this schedule is presented in accordance with the requirements of Uniform Guidance,
Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts
presented in this schedule may differ from amounts presented in the preparation of, the general
purpose financial statements. Special revenue funds are used to account for resources restricted to, or
designed for, specific purposes by a grantor. Generally, unused balances are returned to the grantor at
the close of the specific project period.
The accounting and financial reporting treatment applied to Special Revenue funds is the current
financial resource measurement focus. With this measurement focus, only current assets and current
liabilities are generally included on the balance sheet. Operating statements of these funds present
increases and decreases in fund balance. The modified accrual basis of accounting recognizes revenues
in the accounting period in which they become measurable and available, and expenditures in the
accounting period in which the liability is incurred, except for unmatured interest on long-term debt,
which is recognized when matured, and certain compensated absences, pension liability, other postemployment
benefits, and claims, which are recognized when the obligations are expected to be
liquidated with expendable available resources. Grant funds are considered to be earned as soon as all
eligibility requirements imposed by the provider are met and expenditures have been incurred, and,
accordingly, when such funds are received in advance, they are recorded as deferred revenue until
earned
The period of availability for federal grant funds for the purpose of liquidation of outstanding
obligations made on or before the ending date of the project period extended 30 days beyond the
project period ending date.
The District did not use an indirect cost.