Notes to SEFA
Title: relationship to federal financial reports
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of Madison Parish School Board under programs of the federal government for the year endedJune 30, 2022. The School Board reporting entity is defined in Note 1 to the School Board's basic financialstatements. Federal awards received directly from federal agencies, as well as federal awards passed through othergovernment agencies, are included in the schedule. The information in this Schedule is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of Madison Parish School Board, it is not intended to and does not present thefinancial position, changes in net position or cash flows of Madison Parish School Board.The accompanying Schedule ofExpenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described inNote 1 to the School Board's basic financial statements. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limitedas to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts reported in the accompanyingschedule agree with the amounts reported in the related federal financial reports except for changes made to reflectamounts in accordance with accounting principles generally accepted in the United States of America.
Title: matching revenue
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of Madison Parish School Board under programs of the federal government for the year endedJune 30, 2022. The School Board reporting entity is defined in Note 1 to the School Board's basic financialstatements. Federal awards received directly from federal agencies, as well as federal awards passed through othergovernment agencies, are included in the schedule. The information in this Schedule is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of Madison Parish School Board, it is not intended to and does not present thefinancial position, changes in net position or cash flows of Madison Parish School Board.The accompanying Schedule ofExpenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described inNote 1 to the School Board's basic financial statements. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limitedas to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
For those funds that have matching revenues and state funding, federalexpenditures were determined by deducting matching revenues from total expenditures.
Title: noncash programs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of Madison Parish School Board under programs of the federal government for the year endedJune 30, 2022. The School Board reporting entity is defined in Note 1 to the School Board's basic financialstatements. Federal awards received directly from federal agencies, as well as federal awards passed through othergovernment agencies, are included in the schedule. The information in this Schedule is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of Madison Parish School Board, it is not intended to and does not present thefinancial position, changes in net position or cash flows of Madison Parish School Board.The accompanying Schedule ofExpenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described inNote 1 to the School Board's basic financial statements. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limitedas to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The commodities received, which are noncash revenues, are valued usingprices provided by the United States Department of Agriculture.