Title: Note 3 - Summary of significant accounting policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards, (the "Schedule") includes the federal award activity of the District under programs of the federal government for the year ended August 31, 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 Principals, and Audit Requirement s for Federal Wards ("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Such expenditures are recognized as follows, as applicable, either the cost principles in the Office of Management and Budget Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 4 - Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards, (the "Schedule") includes the federal award activity of the District under programs of the federal government for the year ended August 31, 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 Principals, and Audit Requirement s for Federal Wards ("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Of the Federal expenditures presented in the Schedule, the District did not provide any federal awards to any sub-recipients.
Title: Note 5 - Contingecies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards, (the "Schedule") includes the federal award activity of the District under programs of the federal government for the year ended August 31, 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 Principals, and Audit Requirement s for Federal Wards ("Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District participates in numerous state and federal grant programs governed by various rules and regulations of the grantor agencies. Costs charged to the respective grant programs are subject to audit and adjustment by the grantor agencies; therefore, to the extent the District has not complied with the rules and regulations governing the grants, if any, refunds of any money received may be required and the collectability of any related receivable at August 31, 2022 may be impaired. In the opinion of the District, there are no significant contingent liabilities relating to compliance with the rules and regulations governing the respectivegrants; therefore, no provision has been recorded in the accompanying financial statements for such contingency.