Audit 45651

Accounting Policies: II. Summary of significant accounting policiesA. Reporting entityThe accompanying schedule includes all federal award programs of Maine School Administrative DistrictNo. 11 for the fiscal year ended June 30, 2022. The reporting entity is defined in the notes to the financialstatements of Maine School Administrative District No. 11.B. Basis of presentationThe information in the accompanying schedule of expenditures of federal awards is presented inaccordance with the Uniform Guidance. Pursuant to the Uniform Guidance, federal awards are defined asassistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts,cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance, or directappropriations.Major programsThe Uniform Guidance establishes the level of expenditures or expenses to be used in defining majorfederal award programs. Major programs for Maine School Administrative District No. 11 are identifiedin the summary of auditors results section in the schedule of findings and questioned costs.C. Basis of accountingThe information presented in the schedule of expenditures of federal awards is presented on the modifiedaccrual basis of accounting, which is consistent with the reporting in the Districts fund financialstatements. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.