Title: NOTE C - COMMODITY DISTRIBUTION
Accounting Policies: NOTE A - BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Independent School District No. 2142, St. Louis County, Minnesota, 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only as elected portion of the operations of Independent School District No. 2142, St. Louis County, Minnesota, it is not intended to and does not present the financial position, changes in net position, or cash flows of Independent School District No. 2142, St. Louis County, 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: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Independent School District No. 2142 St. Louis County, Minnesota, has elected not to use the10 percent de minimus indirect cost rate allowed under the Uniform Guidance. The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in the Schedule at fair market value of the commodities received. At June 30, 2022, the District had food commodities totaling $7,776 in inventory.
Title: NOTE D - PASS-THROUGH GRANT NUMBERS
Accounting Policies: NOTE A - BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Independent School District No. 2142, St. Louis County, Minnesota, 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only as elected portion of the operations of Independent School District No. 2142, St. Louis County, Minnesota, it is not intended to and does not present the financial position, changes in net position, or cash flows of Independent School District No. 2142, St. Louis County, 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: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Independent School District No. 2142 St. Louis County, Minnesota, has elected not to use the10 percent de minimus indirect cost rate allowed under the Uniform Guidance. The auditee did not use the de minimis cost rate.
Pass-through grant numbers were not assigned by the pass-through agencies.
Title: NOTE E - SUBRECIPIENTS
Accounting Policies: NOTE A - BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Independent School District No. 2142, St. Louis County, Minnesota, 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only as elected portion of the operations of Independent School District No. 2142, St. Louis County, Minnesota, it is not intended to and does not present the financial position, changes in net position, or cash flows of Independent School District No. 2142, St. Louis County, 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: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Independent School District No. 2142 St. Louis County, Minnesota, has elected not to use the10 percent de minimus indirect cost rate allowed under the Uniform Guidance. The auditee did not use the de minimis cost rate.
There were no subrecipients.