Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal grant activity of Blackfoot School District #55 under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with requirements of the 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 Blackfoot School District #55, it is not intended to and does not present the financial position, changes in net assets or cash flows of Blackfoot School District #55.
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported on the Schedule are reported on the 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.
Title: NONMONETARY TRANSACTIONS
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal grant activity of Blackfoot School District #55 under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with requirements of the 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 Blackfoot School District #55, it is not intended to and does not present the financial position, changes in net assets or cash flows of Blackfoot School District #55.
De Minimis Rate Used: N
Rate Explanation: N/A
Nonmonetary assistance is reported for the Food Distribution Program at fair market value of commodities received which is established by the State Department of Education. The District held an undetermined amount of those commodities in inventory at June 30, 2023.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal grant activity of Blackfoot School District #55 under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with requirements of the 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 Blackfoot School District #55, it is not intended to and does not present the financial position, changes in net assets or cash flows of Blackfoot School District #55.
De Minimis Rate Used: N
Rate Explanation: N/A
Blackfoot School District #55 does not have any sub-recipients of federal awards.