Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Midland Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity
of Midland Public Schools under programs of the federal government for the year ended June 30, 2023. 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 Principles, and Audit Requirements for
Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations
of Midland Public Schools, it is not intended to and does not present the financial position, changes in financial
positions of Midland Public Schools.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Midland Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The federal revenues per the financial statements reconcile with the schedule of expenditures of federal awards as follows: Federal expenditures per the Schedule of Expenditures of Federal Awards; $6,951,563, Adjustments; $18,979, and Federal revenues per the financial statements; $6,970,542. An adjustment of $35,205 was made to reclass expenditures to 220904 SFSP Operating that were originally charged to 221971 COVID-19 Seamless Summer Option (SSO) Breakfast 2021-2022 of $4,573 and COVID-19 Seamless Summer Option (SSO) - Lunch 2021-2022 of $30,632 in the prior year. Another adjustment was made for $18,979 to ECF-202102939 Emergency Connectivity Fund Program to account for expenditures that were incurred in the prior year but not properly reported on the schedule of expenditures of federal awards.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Midland Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
No amounts were provided to subrecipients.
Title: Michigan Department of Education Disclosures
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Midland Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The federal amounts reported on the grant auditor report are in agreement with the schedule of expenditures of
federal awards. The amounts reported on the recipient entitlement balance report agree with the schedule of expenditures of federal awards for U.S.D.A. donated food commodities.