Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Summary of Significant Accounting Policies. 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. East Jordan Public Schools has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of East Jordan Public Schools 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of East Jordan Public Schools, it is not intended to and does not present the financial position, changes in net position, or cash flows of East Jordan Public Schools. The District does not pass-through federal funds to sub recipients.
Title: Adjustments
Accounting Policies: Summary of Significant Accounting Policies. 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. East Jordan Public Schools has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Child Nutrition ClusterThere is an adjustment of ($15,781) reported on the SEFA. This adjustment is in relation to prior 2020-2021 changes in federal meal claims that resulted in a deduction from current fiscal year payments.Education Stabilization FundThe District recognized expenditures in the prior year, but due to grant agreements not being in place, were unable to recognize the revenues during the prior year. Per the Michigan Department of Education guidance, the expenditures were to be recognized in the prior period, but the revenues recognized in the current year. The amount of this adjustment for the year ended June 30, 2022, was $45,041. The expenditures were subjected to audit during the fiscal year ended June 30, 2022, although occurring during fiscal year ending June 30, 2021.
Title: Reconciliation of Revenues with Expenditures for Federal Financial Assistan
Accounting Policies: Summary of Significant Accounting Policies. 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. East Jordan Public Schools has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
See table in Notes to SEFA.
Title: Reconciliation of Grant Auditor Report with Schedule of Expenditures of Fed
Accounting Policies: Summary of Significant Accounting Policies. 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts (if any) shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. East Jordan Public Schools has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Management has utilized the NexSys System Grant Auditor Report in preparing the Schedule of Expenditures of Federal Awards. See table in Notes to SEFA.