Audit 44702

Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includesthe federal award activity of the District. The Schedule includes federally funded amountsof pass-through awards received by the District through the State of Colorado. Theinformation this schedule is presented in accordance with requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrincipals, and Audit Requirements for Federal Awards (Uniform Guidance). Because theSchedule represents only a selected portion of the operations of the District, it is notintended to and does not present the financial position, changes in position or cash flowsof the District.2. Amounts reported in the Schedule are recognized on the modified accrual basis whenthey become a demand on current available federal resources and eligibility requirementsare met. Such expenditures are recognized following, as applicable, either the costprincipal contained in Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles and Audit Requirements for Federal Awardswherein certain types of expenditures are not allowable or are limited as toreimbursements. Therefore, some amounts presented in the Schedule may differ fromamounts presented in or used in the preparation of, the basic financial statements orreports to federal agencies and pass-through grantors. The District has elected not to usethe de minimis 10 percent indirect cost rate allowed under the Uniform Guidance.3. During the year ended June 30, 2022, the District did not pass through any federal fundsto subrecipients.4. For federal awards expended by the District as a subrecipient, the Schedule includesidentification of the pass-through grantor and the identifying number assigned to thegrant by the pass-through grantor.5. Commodities donated to the Organization by the U.S. Department of Agriculture (USDA)are valued based on the USDAs Donated Commodity Price List. The commodities arerecognized as revenue when received. The commodities are reported under the NationalSchool Lunch Program (CFDA 10.555) on the Schedule. The Organization recognizednoncash awards of $16,166 for the year ended June 30, 2022. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.