Title: Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where 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 accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of Fenton Area Public Schools 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 Fenton Area Public Schools, it is not intended to and does not present the financial position or changes in financial position of Fenton Area Public Schools.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where 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 federal revenues per the financial statements are in agreement with the SEFA except for the following, which is related to beneficiary payments for child care and proportionate share for the Special Education Cluster: Federal Source revenue per the financial statements: $5,608,555, Reconciling items: Proportionate share not reportable on the schedule of expenditures of federal awards: $(15,090), Beneficiary payments from federal sources not reportable on the schedule of expenditures of federal awards: $(186,668), Total expenditures of federal awards: $5,406,797.
Title: Michigan Department of Education Disclosures
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where 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.
Management has reported the expenditures in the SEFA equal to those amounts reported in the annual or final cost reports that have been submitted for that particular grant year. The federal amounts reported on the CMS Grant Auditor Report (GAR) are in agreement with the SEFA except for the following: Assistance Listing #: 84.010, Project #: 211530-2021, Cash Received per SEFA: $59,827, Less: Amount Disbursed in 20-21 per the GAR but received in 21-22 by the District: $57,542, Cash paid per June 30, 2022 GAR Schedule: $2,285. Assistance Listing #: 84.367, Project #: 210520-2021, Cash Received per SEFA: $3,495, Less: Amount Disbursed in 20-21 per the GAR but received in 21-22 by the District: $2,901, Cash paid per June 30, 2022 GAR Schedule: $594. Assistance Listing #: 84.424, Project #: 210750-2021, Cash Received per SEFA: $695, Less: Amount Disbursed in 20-21 per the GAR but received in 21-22 by the District: $675, Cash paid per June 30, 2022 GAR Schedule: $20. Assistance Listing #: 84.425D, Project #: 203710-1920, Cash Received per SEFA: $37,242, Less: Amount Disbursed in 20-21 per the GAR but received in 21-22 by the District: $37,242, Cash paid per June 30, 2022 GAR Schedule: $0. The amounts reported on the Recipient Entitlement Balance Report (PAL Report) agree with the SEFA for USDA donated food commodities.
Title: Fund Transferred to Subrecipients
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where 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 Schools District did not transfer any federal funds to subrecipients during the fiscal year.