Audit 45161

Accounting Policies: NOTE 1. BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Beatrice Public Schools District No. 15, Beatrice, Nebraska, under programs of the federal government for the year ended August 31, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Beatrice Public Schools District No. 15, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Beatrice Public Schools District No. 15, Beatrice, Nebraska.NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures on the Schedule are reported on the cash basis of accounting.NOTE 3. SUBRECIPIENTSThe District expended no awards to subrecipients during the year.NOTE 4. FOOD DISTRIBUTIONNonmonetary assistance is reported in the Schedule at the fair market value of the commodities received and disbursed.NOTE 5. INDIRECT COST RATEThe District has elected not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.