Audit 47504

FY End
2022-06-30
Total Expended
$5.49M
Findings
0
Programs
10
Organization: Lakeside School District No. 9 (AR)
Year: 2022 Accepted: 2023-02-16

Organization Exclusion Status:

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Findings

No findings recorded

Contacts

Name Title Type
SJ2LKCD4CN27 Alainna Reeves Auditee
5012622732 Michael L. Cob Auditor
No contacts on file

Notes to SEFA

Title: NUTRITION CLUSTER Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) isa summary ofthe activity of the District's federal awards program and is presentedin accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, AuditRequirements for Federal Awards (OMB Uniform Guidance). The accompanyingSchedule of Expenditures of State Awards is a summary of activity of the District'sstate grants awarded by the Arkansas Department of Human Services. Theseschedules have been prepared on the modified accrual basis of accounting.Therefore, some amounts presented in these schedules may differ from amountspresented in or used in the presentation of the basic financial statements. De Minimis Rate Used: N Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate as permittedby OMB Uniform Guidance. Nonmonetary assistance, such as food received from the U.S. Department ofAgriculture, is reported in the Schedule at the fair value of the commoditiesreceived and consumed. Cash receipts from the U.S. Department of Agriculture arecommingled with State grants. It is assumed federal monies are expended first. Forthe year ended June 30, 2022 the District received $123,841 in food commodities.
Title: MEDICAID Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) isa summary ofthe activity of the District's federal awards program and is presentedin accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, AuditRequirements for Federal Awards (OMB Uniform Guidance). The accompanyingSchedule of Expenditures of State Awards is a summary of activity of the District'sstate grants awarded by the Arkansas Department of Human Services. Theseschedules have been prepared on the modified accrual basis of accounting.Therefore, some amounts presented in these schedules may differ from amountspresented in or used in the presentation of the basic financial statements. De Minimis Rate Used: N Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate as permittedby OMB Uniform Guidance. During the year ended June 30, 2022, the District expended $135,868 of Medicaidfunding from the State Department of Human Services as well as $271,012 ofARMAC Medical Administrative Claiming funds. Such payments are notconsidered federal awards expended, and therefore are not included in the Scheduleof Expenditures of Federal Awards.