Title: NOTE 1 ‐ BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of San Perlita Independent School District and is presented on the modified 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 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 general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended June 30, 2023, the District did not elect to use this rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of San Perlita Independent School District and is presented on the modified 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 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 general purpose financial statements.
Title: NOTE 2 – PROGRAM REPORTING
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of San Perlita Independent School District and is presented on the modified 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 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 general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended June 30, 2023, the District did not elect to use this rate.
SHARS and $70,012 of indirect cost are accounted for in the general fund. The National School Lunch Program, School Breakfast Program and Commodity Supplemental Food Program are accounted for in the Child Nutrition Program. Expenditures are not specifically attributable to these revenues and are shown on this schedule in an amount equal to revenue for balancing purposes only.
Reconciliation
Total expenditures of federal awards, per Exhibit K‐1 $1,012,366
General fund – Federal Revenue
E‐rate revenue (prior year expenditure) 12,799
School Health and Related Services (SHARS) revenue 60,450
Total Federal Revenues, per Exhibit C‐3 $1,072,815
Title: NOTE 3 – SUB‐RECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of San Perlita Independent School District and is presented on the modified 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 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 general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended June 30, 2023, the District did not elect to use this rate.
During the year ended June 30, 2023, the San Perlita Independent School District had no sub‐recipients.
Title: NOTE 4 – FEDERAL LOANS AND LOAN GUARANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of San Perlita Independent School District and is presented on the modified 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 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 general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended June 30, 2023, the District did not elect to use this rate.
During the year ended June 30, 2023, the District had no outstanding federal loans payable or loan guarantees.
Title: NOTE 5 – FEDERALLY FUNDED INSURANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of San Perlita Independent School District and is presented on the modified 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 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 general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended June 30, 2023, the District did not elect to use this rate.
During the year ended June 30, 2023, the District had no federally funded insurance.
Title: NOTE 6 – NONCASH AWARDS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of San Perlita Independent School District and is presented on the modified 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 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 general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended June 30, 2023, the District did not elect to use this rate.
During the year ended June 30, 2023, the District received $20,986 of federal awards in the form of noncash assistance.
Title: NOTE 7 – INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of San Perlita Independent School District and is presented on the modified 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 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 general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended June 30, 2023, the District did not elect to use this rate.
The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year ended June 30, 2023, the District did not elect to use this rate.