Audit 8835

Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Regional School Unit No. 21 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Regional School Unit No. 21, it is not intended to and does not present the financial position of the governmental activities, business type activity, each major fund and the aggregate remaining fund information of the District, as of June 30, 2023, and respective changes in financial position for the year then ended in accordance with accounting principles generally accepted in the United States of America. Expenditures reported on the Schedule are reported on the accrued 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. De Minimis Rate Used: N Rate Explanation: The School Unit has not elected to use the 10-percent de minimis indirect cost rate.