Notes to SEFA
Title: Non-Monetary Federal Awards
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bowling Green R-I School District and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Non-monetary assistance is reported in the schedule at the fair value of the commodities received and disbursed. At June 30, 2022, the District had food commodities totaling $1,100 in inventory.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bowling Green R-I School District and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal funds are not passed through to any subrecipients.
Title: Insurance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bowling Green R-I School District and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Bowling Green R-I School District had no federal insurance in effect for the year ended June 30, 2022.
Title: Loans and Loan Guarantees
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bowling Green R-I School District and is presented on the cash basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Bowling Green R-I School District had no federal loans or federal loan agreements as of or for the year ended June 30, 2022.