Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of La Feria 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: La Feria Independent School District has elected not to use the 10% of the minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of La Feria 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: Program Reporting
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of La Feria 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: La Feria Independent School District has elected not to use the 10% of the minimis indirect cost rate allowed under the Uniform Guidance.
SHARS, MAC and $589,707 of the indirect cost are accounted for in the general fund. The National School Lunch Program, School Breakfast Commodity Supplemental Food Program, and Child and Adult Care 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 $14,501,083
General fund - Federal Revenue
School Health and Related Services (SHARS) revenue $777,947
Total Federal Revenues, per exhibit C-3 $15,279,030
Title: Sub-Recipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of La Feria 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: La Feria Independent School District has elected not to use the 10% of the minimis indirect cost rate allowed under the Uniform Guidance.
Of the federal expenditures presented in the schedule, the District provided federal awards to sub-recipients as follows:
Federal Program Title Assistance Listing Number Amount passed through to sub-recipients
Career and Technical Education - Basic Grants to States (Perkins V) 84.048 $358,696
Title: Federal Loans and Loan Guarantees
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of La Feria 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: La Feria Independent School District has elected not to use the 10% of the minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended June 30, 2023, the District had no outstanding federal loans payable or loan guarantees.
Title: Federally Funded Insurance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of La Feria 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: La Feria Independent School District has elected not to use the 10% of the minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended June 30, 2023, the District had no federally funded insurance.
Title: Noncash Awards
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of La Feria 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: La Feria Independent School District has elected not to use the 10% of the minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended June 30, 2023, the District received $178,929 of federal awards in the form of noncash assistance.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of La Feria 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: La Feria Independent School District has elected not to use the 10% of the minimis indirect cost rate allowed under the Uniform Guidance.
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.