Audit 53811

Title: Expenditures Reported Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity ofCameron Independent School District under programs of the federal government for the year ended August 31, 2022. Theinformation in this Schedule is presented in accordance with the requirements of Title 2 U. S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of Cameron Independent SchoolDistrict, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CameronIndependent School District. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance and/or 0MB Circular A-87, Cost Principles for State,Local, and Indian Tribal Governments Organizations, wherein certain types of expenditures are not allowable or are limitedas to reimbursement. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. 1. For all Federal programs, the District uses the fund types specified in Texas Education Agency's FinancialAccountability System Resource Guide. Special Revenue Funds are used to account for resources restricted to, ordesignated for, specific purposes by a grantor. Federal and state financial assistance generally is accounted for in aSpecial Revenue Fund.2. The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. TheGovernmental Fund types are accounted for using a current financial resources measurement focus. All Federalgrant funds were accounted for in a Special Revenue Fund, which is a Governmental Fund type. With thismeasurement focus, only current assets, current liabilities, and the fund balance are included on the balance sheet.Operating statements of these funds present increases and decreases in net current assets.The modified accrual basis of accounting is used for the Governmental Fund types and Agency Funds. This basis ofaccounting recognizes revenues in the accounting period in which they become susceptible to accrual, i.e., bothmeasurable and available, and expenditures in the accounting period in which the fund liability is incurred, ifmeasurable, except for unmatured interest on General Long-Term Debt, which is recognized when due, and certaincompensated absences and claims and judgments, which are recognized when the obligations are expected to beliquidated with expendable available financial resources.Federal grant funds are considered to be earned to the extent of expenditures made under the provisions of the grant,and, accordingly, when such funds are received, they are recorded as deferred revenues until earned.3. During the current year, the District received the following funds which are not included in the Schedule ofExpenditures of Federal Awards.Total expenditures of Federal Awards $5,631,741Medicaid Reimbursement (SHARS) 406,048Miscellaneous prepayments (non-major funds) 5,379Federal Revenues per Financial Statements 6,043,168