Audit 7474

Accounting Policies: 1. SIGNIFICANT ACCOUNTING POLICIES Organization The accompanying Schedule of Expenditures of Federal Awards represents all Federal awards administered by the Afton Central School District. The School District’s organization is defined in Note 1 to the School District’s financial statements. Basis of Accounting The expenditures in the accompanying schedule are presented on an 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). Because the Schedule presents only a selected portion of the operations of Sherburne-Earlville Central School District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Sherburne-Earlville Central School District. Cluster Programs The following programs are identified by “OMB Compliance Supplement” to be part of a cluster of programs: U.S. Department of Education Special Education Cluster ALN 84.027 Special Education - Grants to States (IDEA, Part B) ALN 84.173 Special Education - Preschool Grants (IDEA Preschool) ALN 84.027X COVID-19 Special Education Grants to States ALN 84.173X COVID-19 Special Education Preschool Grants U.S. Department of Agriculture Nutrition Cluster ALN 10.553 National School Breakfast Program ALN 10.555 National School Lunch Program ALN 10.555 Food Donation ALN 10.559 Summer Food Service Program Use of Subrecipients There were no awards passed through to subrecipients. De Minimis Indirect Cost Rate The 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 fair market value of the food commodities received. At June 30, 2023, the School District had food commodities totaling $1,934 in inventory De Minimis Rate Used: N Rate Explanation: De Minimis Indirect Cost Rate The District has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.