Notes to SEFA
Title: DONATED FOOD VALUE
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includesthe federal grant activity of the Monroe County Board of Education (the Board) underprograms of the federal government for the year ended June 30, 2022. The information inthis Schedule is presented in accordance with the requirements of the Title 2 U.S. Codeof Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles,and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of the Board, it is not intended to anddoes not represent the financial position and changes in net position of the Board.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain 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.
Donated food represents surplus agricultural commodities received from the U.S.Department of Agriculture passed through from the West Virginia Department ofAgriculture. Commodities are valued based on amounts as established by the U.S.Department of Agriculture. For the year ended June 30, 2022, the total value of thedonated food inventories was $92,883.
Title: CHILD NUTRITION PROGRAM
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includesthe federal grant activity of the Monroe County Board of Education (the Board) underprograms of the federal government for the year ended June 30, 2022. The information inthis Schedule is presented in accordance with the requirements of the Title 2 U.S. Codeof Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles,and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of the Board, it is not intended to anddoes not represent the financial position and changes in net position of the Board.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain 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.
Child Nutrition Program (AL #10.555, #10.553, #10.559, and #10.582) expenditures offederal awards are based on the amount of federal funding received for each of theprograms. Since the amount of total expenditures for the programs exceeds the amountof the federal awards received, it is presumed that the total received from the federalawards has been expended. The amount of expenditures funded by meal sales, sponsor'scontributions and state matching funds for both programs has not been included in theSchedule.