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, as applicable, either the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Adjustments of $340 were recorded to show funds recaptured by the grantor. Adjustments of $12,247 were recorded to reflect expenditures that were incurred in a prior year that were not reimbursed by the grantor.
De Minimis Rate Used: N
Rate Explanation: Godwin Heights 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 Godwin Heights 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 Godwin Heights Public Schools, it is not intended to and does not present the financial position or changes in financial positions of Godwin Heights 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, as applicable, either the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Adjustments of $340 were recorded to show funds recaptured by the grantor. Adjustments of $12,247 were recorded to reflect expenditures that were incurred in a prior year that were not reimbursed by the grantor.
De Minimis Rate Used: N
Rate Explanation: Godwin Heights 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 to the Schedule as follows:
Federal revenues, per the financial statements $ 5,763,965
Recapture of funds by grantor in the adjustment column 340
Federal expenditures, per the Schedule $ 5,764,305
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Adjustments of $340 were recorded to show funds recaptured by the grantor. Adjustments of $12,247 were recorded to reflect expenditures that were incurred in a prior year that were not reimbursed by the grantor.
De Minimis Rate Used: N
Rate Explanation: Godwin Heights Public Schools has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No amount 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, as applicable, either the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Adjustments of $340 were recorded to show funds recaptured by the grantor. Adjustments of $12,247 were recorded to reflect expenditures that were incurred in a prior year that were not reimbursed by the grantor.
De Minimis Rate Used: N
Rate Explanation: Godwin Heights 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. 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.