Notes to SEFA
Accounting Policies: Note 1. GeneralThe accompanying schedule of expenditures of federal awards presents the activity of allfederal financial assistance programs of the Tangipahoa Parish School System (theSchool System). The School System reporting entity is defined in Note 1 to the basicfinancial statements for the year ended June 30, 2022. All federal financial assistancereceived directly from federal agencies is included on the schedule, as well as federalfinancial assistance passed through other government agencies. The commoditiesreceived, which are non-cash revenues, are valued using prices provided by the UnitedStates Department of Agriculture.Note 2. Basis of AccountingThe accompanying schedule of expenditures of federal awards is presented usingthe modified accrual basis of accounting, which is described in Note 1 to the SchoolSystems basic financial statements for the year ended June 30, 2022.Note 3. Relationship of Federal Awards to the Financial StatementsFederal award revenues are reported in the School Systems financial statements asfollows:Year EndedJune 30, 2022Amounts Reported in the Financial StatementsFederal Grant Revenues - Governmental Funds $ 64,079,726FEMA (97.036) Revenue Previously Recognizedbut Obligated in the Year Ended June 30, 2022 (485,716)Total Federal Awards Reported $ 63,594,010
De Minimis Rate Used: N
Rate Explanation: Note 4. De Minimis Cost RateThe School System uses an indirect cost rate negotiated and approved by the LouisianaDepartment of Education and the U.S. Department of Education, and has elected not touse the 10% de minimis indirect cost rate as provided for in section 200.414 of the UniformGuidance.