Audit 53450

Accounting Policies: Note 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (the schedule) includes the federal grantactivity of Carbon Cliff-Barstow School Distrit No. 36 under programs of the federal government for theyear ended June 30, 2022. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 210, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedulepresents only a selected portion of the operations of Carbon Cliff-Barstow School District No. 36, it is notintended to and does not present the financial position, changes in net position or cash flows of CarbonCliff-Barstow School District No. 36.Note 2. Summary of Significant Accounting PoliciesExpenditures reported on the schedule are reported on the cash basis of accounting which is a basis ofaccounting other than accounting principles generally accepted in the United States of America.Accordingly, revenue is recognized and recorded in the account when cash is received. In the samemanner, expenditures are recognized and recorded upon the disbursement of cash. The cash basis ofaccounting does not give effect to accounts receivable, accounts payable and accrued items.Disbursements are recognized following cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.