Notes to SEFA
Title: Scope of Audit
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the Districts financial reporting system.The federal expenditures are recognized under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Kingston City School District is an independent municipal corporation. All federal grant operations of the District are included in the scope of the single audit.
Title: Non-Cash Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the Districts financial reporting system.The federal expenditures are recognized under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary 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 $302,233.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the Districts financial reporting system.The federal expenditures are recognized under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Kingston City School 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 to charge federal award programs with indirect costs, if allowable within the grant.
Title: Sub-Recipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program and periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the Districts financial reporting system.The federal expenditures are recognized under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District provided no federal awards to sub-recipients during the year ended June 30, 2022.