Audit 47595

Accounting Policies: Note 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (the schedule) includes the federal grantactivity of United Township High School District No. 30 under programs of the federal government for theyear ended June 30, 2022. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedulepresents only a selected portion of the operations of United Township High School District No. 30, it is notintended to and does not present the financial position, changes in net position or cash flows of UnitedTownship High School District No. 30.Note 2. Summary of Significant Accounting PoliciesExpenditures reported on the schedule are reported on the modified accrual or accrual basis ofaccounting. Such expenditures are recognized following the cost principles in the Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement. Revenuefrom federal awards is recognized when the District has done everything necessary to establish its right torevenue. For governmental funds, revenue from federal awards is recognized when it is both measurableand available. Expenditures of federal awards are recognized in the accounting period when the liabilityis incurred.Such expenditures are recognized following cost principles contained in Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.