Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of
Crockett Independent School District and is presented on the modified accrual basis of accounting. The
information in this schedule is presented in accordance with the requirements of Single Audit Act
Amendments of 1996 and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Therefore, some amounts presented in this schedule may differ from amounts presented in or used in
the preparation of the basic financial statements.
For all federal programs, the District uses the fund types specified in Texas Education Agency's Financial
Accountability System Resource Guide. Special revenue funds are used to account for resources
restricted to, or designated for, specific purposes by a grantor. Federal and state financial assistance
generally is accounted for in a Special Revenue Fund.
The accounting and financial reporting treatment applied to a fund is determined by its measurement
focus. The governmental fund types are accounted for using a current financial resources measurement
focus. All federal grant funds were accounted for in the General Fund or a Special Revenue Fund which
are governmental fund types. With this measurement focus, only current assets and current liabilities
and the fund balance are included on the balance sheet. Operating statements of these funds present
increases and decreases in net current assets.
The modified accrual basis of accounting is used for the governmental fund types, and custodial funds.
The basis of accounting recognizes revenues in the accounting period in which they become susceptible
to accrual, i.e., both measurable and available, and expenditures in the accounting period in which the
fund liability is incurred, if measurable, except for unmatured interest on general long-term debt, which
is recognized when due, and certain compensated absences and claims and judgments, which are
recognized when the obligations are expected to be liquidated with expendable available financial
resources.
Federal grant funds are considered to be earned to the extent of expenditures made under the
provisions of the grant, and, accordingly, when such funds are received, they are recorded as unearned
revenues 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 federal project period extended 30 days beyond
the federal project period ending date, in accordance with provisions in Section H, Period of Availability
of Federal Funds, Part 3 Uniform Guidance Compliance Statement - Provisional 6/97.
National School Lunch Program non-cash commodities are recorded at their estimated market value at
the time of donation.
The District has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform
Guidance but had indirect cost of $33,432 included in the General Fund.