Title: Basis of Presentation
Accounting Policies: Note 1 and 2
De Minimis Rate Used: N
Rate Explanation: Note 3
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal award activity of the Lee County District School Board under programs of the Federal Government for the fiscal 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). Because the Schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
Title: Summary of Significant Accounting Policies
Accounting Policies: Note 1 and 2
De Minimis Rate Used: N
Rate Explanation: Note 3
Expenditures reported on the Schedule are reported on the modified 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.
Title: Indirect Cost Rate
Accounting Policies: Note 1 and 2
De Minimis Rate Used: N
Rate Explanation: Note 3
The District has not elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.
Title: Noncash Assistance: National School Lunch Program
Accounting Policies: Note 1 and 2
De Minimis Rate Used: N
Rate Explanation: Note 3
Includes $6,005,163 of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation.
Title: Noncash Assistance: Child Care Food Program
Accounting Policies: Note 1 and 2
De Minimis Rate Used: N
Rate Explanation: Note 3
Includes $124,465 of donated food received during the fiscal year. Donated foods are valued at fair value as determined at the time of donation.
Title: Impact Aid
Accounting Policies: Note 1 and 2
De Minimis Rate Used: N
Rate Explanation: Note 3
Expenditures are related to grant number/program 19-FL-2024-192902.
Title: Head Start
Accounting Policies: Note 1 and 2
De Minimis Rate Used: N
Rate Explanation: Note 3
Expenditures include $702,411.86 for grant number/program year 04HP000293-02 and $170,626.33 for grant number/program year 04HP000293-03, $109,852.72 for grant number /program year 04CH011657-01, $774,150.78 for grant number/program year 04CH011657-02 and $7,443,575.44 for grant number/program year 04CH011657-03. The $860,916.65 in expenditures was from the American Rescue Plan grant 04-HE00137-01.