Notes to SEFA
Title: Relationship to Basic Financial Statements
Accounting Policies: Note 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards presents the activity of allfederal awards programs of the East Carroll Parish School Board (the School Board)under programs of the federal government for the year ended June 30, 2022. Theinformation in this schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because theschedule presents only a selected portion of the operations of the School Board, it is notintended to and does not present the financial position or change in net assets of theSchool Board.Note 2. Summary of Significant Accounting PoliciesThe accompanying schedule of expenditures of federal awards is presented using themodified accrual basis of accounting, which is described in Note 1 of the notes to the basicfinancial statements of the School Board's Annual Financial Report. Such expendituresare recognized following, as applicable, the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Note 3. Relationship to Basic Financial StatementsFederal awards revenues are reported in the School Board's basic financial statementsas follows:FederalSourcesMajor FundsTitle I $ 1 ,468,292ESSER III 1 ,404,779Non-Major FundsChild Nutrition 8 55,817Special Education 1 97,842Title II 6 0,443Vocational Education 7 ,541Student Support 4 0,431Rural Education Achievement 2 1,401ESSER III 8 49,019Comprehensive Literacy 5 9,217Total $ 4 ,964,782
Title: Note 4- 6
Accounting Policies: Note 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards presents the activity of allfederal awards programs of the East Carroll Parish School Board (the School Board)under programs of the federal government for the year ended June 30, 2022. Theinformation in this schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because theschedule presents only a selected portion of the operations of the School Board, it is notintended to and does not present the financial position or change in net assets of theSchool Board.Note 2. Summary of Significant Accounting PoliciesThe accompanying schedule of expenditures of federal awards is presented using themodified accrual basis of accounting, which is described in Note 1 of the notes to the basicfinancial statements of the School Board's Annual Financial Report. Such expendituresare recognized following, as applicable, the cost principles contained in the UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Note 4. Relationship to Federal Financial ReportsAmounts reported in the accompanying schedule agree with the amounts reported inthe related federal financial reports except for changes made to reflect amounts inaccordance with accounting principles generally accepted in the United States of America.Note 5. Matching RevenuesThe dollar threshold of $750,000 was used to distinguish between Type A and Type Bfederal programs. For those funds that have matching revenues and state funding, federalexpenditures were determined by deducting matching revenues from total expenditures.Note 6. Non-Cash ProgramsThe commodities received, which are non-cash revenues, are valued using pricesprovided by the United States Department of Agriculture.