Notes to SEFA
Accounting Policies: NOTE 1.BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Norris Public Schools District No. 160, Firth, Nebraska, under programs of the federal government for the year ended August 31, 2022. The infor-mation in the 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 Norris Public Schools District No. 160, Firth, Nebraska, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Norris Public Schools District No. 160, Firth, Nebraska.NOTE 2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the cash basis of accounting. NOTE 3.SUBRECIPIENTSOf the federal expenditures presented in the schedule, Norris Public Schools District No. 160, Firth, Nebraska, provided no federal awards to subrecipients.NOTE 4.INDIRECT COST RATENorris Public Schools District No. 160, Firth, Nebraska, has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.NOTE 5.FOOD DISTRIBUTIONNonmonetary assistance is reported in the schedule at fair market value of the commodities received and disbursed.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.