Title: Basis of Presentation:
Accounting Policies: See attached. Notes.
De Minimis Rate Used: N
Rate Explanation: The La Joya Independent School District has elected not to use the 10% de minimis indirect cost rate.
The accompanying schedule of federal awards includes the federal grant activity of La Joya Independent School District. The information in this schedule is presented in accordance with the requirements of Title 2 US 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.
Title: Summary of Significant Accounting Policies.
Accounting Policies: See attached. Notes.
De Minimis Rate Used: N
Rate Explanation: The La Joya Independent School District has elected not to use the 10% de minimis indirect cost rate.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Compliance Supplement, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate:
Accounting Policies: See attached. Notes.
De Minimis Rate Used: N
Rate Explanation: The La Joya Independent School District has elected not to use the 10% de minimis indirect cost rate.
La Joya Independent School District has elected no to use the 10% de minimis indirect cost rate allowed undet the Uniform Guidance.
Title: Sub-recipients:
Accounting Policies: See attached. Notes.
De Minimis Rate Used: N
Rate Explanation: The La Joya Independent School District has elected not to use the 10% de minimis indirect cost rate.
For the year ended June 30, 2023, the District had no sub-recipients.
Title: Federal Loans and Loan Guarantees:
Accounting Policies: See attached. Notes.
De Minimis Rate Used: N
Rate Explanation: The La Joya Independent School District has elected not to use the 10% de minimis indirect cost rate.
For the year ended June 30, 2023, the District had no outstanding federal loans payable or loan guarantees.
Title: Federally Funded Insurance:
Accounting Policies: See attached. Notes.
De Minimis Rate Used: N
Rate Explanation: The La Joya Independent School District has elected not to use the 10% de minimis indirect cost rate.
For the year ended June 30, 2023, the District had no federlly funded Insurance.
Title: Noncash awards:
Accounting Policies: See attached. Notes.
De Minimis Rate Used: N
Rate Explanation: The La Joya Independent School District has elected not to use the 10% de minimis indirect cost rate.
For the year ended June 30, 2023, the District received $1,660,351 as noncash assistance under the National School Lunch Program.
Title: Reconciliation from the Schedule of Expenditures of Federal Awards to the Exhibit C-3:
Accounting Policies: See attached. Notes.
De Minimis Rate Used: N
Rate Explanation: The La Joya Independent School District has elected not to use the 10% de minimis indirect cost rate.
Amount reported on the Schedule of Expenditures of Federal Awards: $137,625,790