Notes to SEFA
Title: RECONCILIATATION OF TOTAL FEDERAL AWARDS IN STATEMENT E TO TOTAL PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the School Boards basic financial statements for the year ended June 30, 2022. A cluster of programs means a grouping of closely related programs that share common compliance requirements. The types of clusters of programs are research and development, student financial aid, and other clusters. "Other clusters" are defined by the Office of Management and Budget (OMB) in the Compliance Supplement.
De Minimis Rate Used: N
Rate Explanation: The School Board uses an indirect cost rate negotiated and approved by the Louisiana Department of Education and the U.S. Department of Education, and has elected not to use the 10% de minimis indirect cost rate as provided for in Section 200.414 of the Uniform Guidance.
Federal award revenues are reported in the School Boards financial statements asfollows:Restricted Grants In Aid Direct $ 397,297Restricted Grants In Aid Subgrants 34,907,160Revenue for/on Behalf of LEA 699,146Total Federal Revenues in Statement E $ 36,003,603
Title: NON-CASH ASSISTANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the School Boards basic financial statements for the year ended June 30, 2022. A cluster of programs means a grouping of closely related programs that share common compliance requirements. The types of clusters of programs are research and development, student financial aid, and other clusters. "Other clusters" are defined by the Office of Management and Budget (OMB) in the Compliance Supplement.
De Minimis Rate Used: N
Rate Explanation: The School Board uses an indirect cost rate negotiated and approved by the Louisiana Department of Education and the U.S. Department of Education, and has elected not to use the 10% de minimis indirect cost rate as provided for in Section 200.414 of the Uniform Guidance.
Nonmonetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed. At June 30, 2022, the School Board had food commodities totaling $816,488 in inventory. The value of commodities received during the period ended June 30, 2022 totaled $698,162.