Audit 49708

Accounting Policies: I.BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Dover - Sherborn Regional 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 Dover - Sherborn Regional School District, it is not intended to and does not present the financial position, changes in net position of the Dover - Sherborn Regional School District.II. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basis of accounting. Accordingly expenditures are recognized when the liability is incurred. 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.III. IN DIRECT COST RATEThe Dover - Sherborn Regional School District has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.IV. SCHOOL LUNCH PROGRAMThe School accounts for local, state and federal expenditures of the National School Lunch and School Breakfast programs in one combined fund. Program expenditures in the accompanying Schedule of Expenditures of Federal Awards represent federal reimbursements for meals provided during fiscal 2022. Contributions of noncash assistance commodities under the Food Distribution program are received under a State distribution formula and are valued at federally published wholesale prices for purposes of this schedule.V. SUBRECIPIENTSThe Dover - Sherborn Regional School District passed no federal awards through to sub-recipients during the period under audit. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.