Audit 49618

Accounting Policies: Note 1 - Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of AuSable Valley Central School District under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements 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 Schedule presents only a selected portion of the operations of the AuSable Valley Central School District, it is not intended to and does not present the statement of revenues, expenditures, and changes in fund balance of the AuSable Valley Central School District.Note 2 - Summary of Certain Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.Note 3 - SubrecipientsThe AuSable Valley Central School District provided federal awards to subrecipients as follows:FederalAmountCFDA #Provided IDEA 61984.173$ 10,617 IDEA 61184.027$ 28,015COVID 19 IDEA 61184.072X$ 3,321COVID 19 IDEA 61984.173X$ 3,450Note 4 Scope of AuditThe District is an independent municipal corporation. All federal grant operations of the District are included in the scope of the single audit.Note 5 Non-monetary assistanceNonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. For the year ended June 30, 2022, the District received food commodities totaling $29,998.Note 6 Indirect Cost RateThe District did not elect to use the 10% de minimus cost rate.Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source for the data presented. The Districts policy is not to charge federal award programs with indirect costs De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.