Audit 56288

Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIESOrganizationThe accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered by the HannibalCentral School District. The School Districts organization is defined in Note 1 to the School Districts financial statements.Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of theHannibal Central School District under programs of the federal government for the year ended June 30, 2022. The information inthis Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).Basis of AccountingExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or usedin the preparation of, the basic financial statements.Use of SubrecipientsThere were no awards passed through to subrecipients.Food DonationNonmonetary assistance is reported in the schedule at fair market value of the food commodities received. At June 30, 2022, theSchool District had food commodities totaling $18,388 in inventory.De Minimis Indirect Cost RateThe District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.Cluster ProgramsThe following programs are identified by OMB Compliance Supplement to be part of a cluster of programs:U.S. Department of AgricultureNutrition ClusterAL #10.553 School Breakfast ProgramAL #10.555 National School Lunch ProgramU.S. Department of EducationSpecial Education ClusterAL #84.027 Special Education - Grants to States (IDEA, Part B)AL #84.173 Special Education - Preschool Grants (IDEA Preschool) De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.