The accompanying schedule of expenditures of federal awards (the "Schedule")
includes the federal award activity for School District No. 3 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
School District No. 3, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of School District No. 3.
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, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative
amounts shown on the Schedule represent adjustments or credits made in the
normal course of business to amounts reported as expenditures in prior years.
School District No. 3 generally does not use an indirect cost rate, therefore they
have not elected to use the 10% de minimis indirect cost rate.
There were no subrecipients.