Notes to SEFA
Title: Note 3. Donated Personal Protective Equipment (PPE) (Unaudited)
Accounting Policies: Note 1. Summary of Significant Accounting PoliciesThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of the Oyster River Cooperative School District (the District) underprograms of the federal government for the year ended June 30, 2022. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of the District, it is not intended to and does not presentthe financial position, or changes in net position of the District.Expenditures reported on the Schedule are reported on the modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited toreimbursement.The amounts reported for the National School Lunch Program NonCash Assistancerepresent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During fiscal year 2022, the District did not receive donated PPE from federal sources.
Title: Note 4. Subrecipients
Accounting Policies: Note 1. Summary of Significant Accounting PoliciesThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of the Oyster River Cooperative School District (the District) underprograms of the federal government for the year ended June 30, 2022. The information in theSchedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of the District, it is not intended to and does not presentthe financial position, or changes in net position of the District.Expenditures reported on the Schedule are reported on the modified accrual basis ofaccounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited toreimbursement.The amounts reported for the National School Lunch Program NonCash Assistancerepresent the fair value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Of the federal expenditures presented in the Schedule, the District did not provide federal awards to subrecipients.