Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of the Putnam County School System (the School System) and is presented on the accrual basis of accounting.The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The School System did not pass through any funds to subrecipients in the year ended June 30, 2022.
Title: TRANSFERABILITY
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of the Putnam County School System (the School System) and is presented on the accrual basis of accounting.The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Under transferability, the School System transferred $144,432 in grant funds from Supporting Effective Instruction State Grants Program (Assistance Listing #84.367A) and $81,935 from the Student Support and Academic Enrichment Program (Assistance Listing #84.424A) to the Title I Grants to Local Educational Agencies Program (Assistance #84.010). Expenditures of these transfers are reflected above as expenditures of the Title I Grants to Local Educational Agencies Program