Audit 50237

Accounting Policies: Basis of Presentation:The accompanying schedule of expenditures of federal awards includes the federal grant activity of Crockett Independent School District and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Single Audit Act Amendments of 1996 and Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.National School Lunch Program non-cash commodities are recorded at their estimated market value at the time of donation.The District has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance but had indirect cost of $148,126 included in the General Fund. Presented below is a reconciliation of federal revenues:Total Expenditures of Federal Awards$7 370 294 General Fund - Federal Revenue:Student Health and Related Services (SHARS)229 491 E-rate199 181 TOTAL FEDERAL REVENUES$7 798 966 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.