Audit 6781

Title: SUMMARY OF ACCOUNTING POLICIES Accounting Policies: General - The Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Golf School District No. 67. The District's reporting entity is defined in Note1 to the District's financial statements. Basis of Accounting - The Schedule of Expenditures of Federal Awards is presented using the cash basis of accounting, which is described in Note 1 to the District's financial statements. Relationship to Basic Financial Statements - Federal awards received are reflected in the District's financial statements within the General (Education) Fund as recepts form federal sources. Relationship to Program Financial Reports - Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with amounts reported in the Program Financial Reports for programs which have filed final reports as of June 30, 2023, with the Illinois State Board of Education. De Minimis Rate Used: N Rate Explanation: None needed General - The Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of Golf School District No. 67. The District's reporting entity is defined in Note1 to the District's financial statements. Basis of Accounting - The Schedule of Expenditures of Federal Awards is presented using the cash basis of accounting, which is described in Note 1 to the District's financial statements. Relationship to Basic Financial Statements - Federal awards received are reflected in the District's financial statements within the General (Education) Fund as recepts form federal sources. Relationship to Program Financial Reports - Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with amounts reported in the Program Financial Reports for programs which have filed final reports as of June 30, 2023, with the Illinois State Board of Education.