Audit 7331

Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Central Valley Central School District 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). Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. De Minimis Indirect Cost Rate The School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Food Donation Nonmonetary assistance is reported in the schedule at the fair market value of the food commodities received. At June 30, 2023, the School District had food commodities totaling $30,849 in inventory. Personal Protective Equipment (PPE) The School District did not receive any donated PPE from a federal agency. Cluster Programs The following programs are identified by “OMB Compliance Supplement” to be part of a cluster of programs: U.S. Department of Agriculture Nutrition Cluster AL #10.553 School Breakfast Program AL #10.555 National School Lunch Program AL #10.559 Summer Food Service Program for Children U.S. Department of Education Special Education Cluster AL #84.027 Special Education Grants to States (IDEA, Part B) AL #84.173 Special Education Preschool Grants (IDEA Preschool) Transferability As allowed by federal regulations, the School District elected to transfer program funds. The district expended $81,004 from its Title II, Part A Supporting Effective Instruction State Grants (84.367) and $51,730 from its Title IV, Student Support and Academic Enrichment Program (84.424) for allowable activities of the Title I, Part A Grants to Local Educational Agencies (84.010). These amounts are reflected in the total expenditures of the Title I, Part A program for purposes of (1) determining Type A programs, and (2) completing the Schedule, although they are listed under the original program name and assistance listing number. De Minimis Rate Used: N Rate Explanation: De Minimis Indirect Cost Rate The School District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.