Title: Basis of Presentation
Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Turtle Mountain Community College has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of the Turtle Mountain Community College under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Turtle Mountain Community College, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Turtle Mountain Community College.
Title: Subrecipients
Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Turtle Mountain Community College has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Of the federal expenditures presented in the schedule, the College provided no awards to subrecipients.
Title: Outstanding Federal Loans
Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Turtle Mountain Community College has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The College has no federal loan obligations as of June 30, 2022.
Title: BIA Endowment Investment
Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Turtle Mountain Community College has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The College has $1,040,986 of restricted endowment moneys as of June 30, 2022. 2 CFR Part 200.502(e) states the cumulative balance of Federal awards for endowment funds that are federally restricted are considered Federal awards expended in each audit period in which the funds are still restricted, thusly $686,804 is considered expended and is shown on the schedule of expenditures of federal awards under AL #15.028. Note that the College has its own endowments so this amount will not agree to the amount reported on the Statement of Net Position.
Title: Reconciliation of Federal Expenditures
Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Turtle Mountain Community College has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following is a reconciliation of the expenditures reported on the College's schedule of expenditures of federal awards to expenditures reported in the College's statement of revenues, expenditures, and changes in fund balance. Expenditures per Schedule of Expenditures of Federal Awards $ 27,178,747Less restricted endowment (686,804)Expenditures funded by general fund, state and other funding sources 3,744,632Expenditures per Statement of Revenue, Expenditures, and Changes in Fund Balance $ 30,236,575
Title: Advances from Grantors by AL# for Health and Human Services Funds
Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Turtle Mountain Community College has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
AL # Program Name Amount 93.093 Affordable Care Act (ACA) Health Profession Opportunity Grants $10493.587 Promote the Survival and Continuing Vitality of Native American Language $2693.959 Block Grants for Prevention and Treatment of Substance Abuse $30,760 Total advances from grantors - HHS funds $ 30,890