Audit 295613

Title: Nonmonetary Transactions Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Shepherd Public School District No. 37 and is presented on the modified accrual basis of accounting including encumbrances. 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. Therefore, some amounts presented in this schedule differ from amounts presented in or used in the preparation of the financial statements. De Minimis Rate Used: N Rate Explanation: The District has elected to not use the 10% de minimus indirect cost rate allowed by the Uniform Guidance. The District received $24,761 in USDA Commodities during the 2022-2023 fiscal year. The commodities received are valued at the average wholesale price as determined by the distributing agency. All commodities received by the District were treated as an expense of the Fund receiving the commodities.

Title: Subrecipients Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Shepherd Public School District No. 37 and is presented on the modified accrual basis of accounting including encumbrances. 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. Therefore, some amounts presented in this schedule differ from amounts presented in or used in the preparation of the financial statements. De Minimis Rate Used: N Rate Explanation: The District has elected to not use the 10% de minimus indirect cost rate allowed by the Uniform Guidance. The District does not have any subrecipients or subrecipient expenditures.