Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Independent School District No. 2909, Rock Ridge Schools, Minnesota, 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Independent School District No. 2909, Rock Ridge Schools, Minnesota, it is not intended to and does not present the financial position or changes in net position of Independent School District No. 2909, Rock Ridge Schools, Minnesota. 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.
De Minimis Rate Used: N
Rate Explanation: The District either did not use any indirect cost rates or the rate associated with each individual grant.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Independent School District No. 2909, Rock Ridge Schools, Minnesota, 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Independent School District No. 2909, Rock Ridge Schools, Minnesota, it is not intended to and does not present the financial position or changes in net position of Independent School District No. 2909, Rock Ridge Schools, Minnesota. 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: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Independent School District No. 2909, Rock Ridge Schools, Minnesota, 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Independent School District No. 2909, Rock Ridge Schools, Minnesota, it is not intended to and does not present the financial position or changes in net position of Independent School District No. 2909, Rock Ridge Schools, Minnesota. 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.
De Minimis Rate Used: N
Rate Explanation: The District either did not use any indirect cost rates or the rate associated with each individual grant.
Independent School District No. 2909, Rock Ridge Schools, Minnesota, has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE C - COMMODITY DISTRIBUTION
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Independent School District No. 2909, Rock Ridge Schools, Minnesota, 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Independent School District No. 2909, Rock Ridge Schools, Minnesota, it is not intended to and does not present the financial position or changes in net position of Independent School District No. 2909, Rock Ridge Schools, Minnesota. 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.
De Minimis Rate Used: N
Rate Explanation: The District either did not use any indirect cost rates or the rate associated with each individual grant.
Nonmonetary assistance is reported in the Schedule at the fair market value of the commodities received. At June 30, 2023, the District had food commodities totaling $5,869 in inventory.
Title: NOTE D - SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Independent School District No. 2909, Rock Ridge Schools, Minnesota, 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Independent School District No. 2909, Rock Ridge Schools, Minnesota, it is not intended to and does not present the financial position or changes in net position of Independent School District No. 2909, Rock Ridge Schools, Minnesota. 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.
De Minimis Rate Used: N
Rate Explanation: The District either did not use any indirect cost rates or the rate associated with each individual grant.
Of the federal expenditures presented in this schedule, Independent School District No. 2909, Rock Ridge Schools, Minnesota, provided federal awards to a subrecipient as follows: Program Title Fed ALNbreceipier Amount Passed to Subrecipients Carreer and Technical Education - Baic Grants to States 84.048 $32,214
Title: NOTE E - PASS-THROUGH GRANT NUMBERS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Independent School District No. 2909, Rock Ridge Schools, Minnesota, 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 Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Independent School District No. 2909, Rock Ridge Schools, Minnesota, it is not intended to and does not present the financial position or changes in net position of Independent School District No. 2909, Rock Ridge Schools, Minnesota. 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.
De Minimis Rate Used: N
Rate Explanation: The District either did not use any indirect cost rates or the rate associated with each individual grant.
Pass-through grant numbers were not assigned by the pass-through agencies.