Notes to SEFA
Title: NOTE 3 BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the applicable cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Bismarck Public School District No. 1 has not elected to use the 10-percent de minimis cost rate as allowed under the Uniform Guidance.
The accompanying schedule includes the federal award activity of Bismarck Public School District No. 1 under programs of the federal government for the year ended June 30, 2023. 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 Bismarck Public School District No. 1, it is not intended to and does not present the financial positions, changes in net position, or cash flows of Bismarck Public School District No. 1. The amounts reported on the schedule have been reconciled to and are in agreement with amounts recorded in the accounting records from which the financial statements have been reported.
Title: NOTE 4 AGENCY OR PASS-THROUGH NUMBER
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the applicable cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Bismarck Public School District No. 1 has not elected to use the 10-percent de minimis cost rate as allowed under the Uniform Guidance.
The District received money passed through multiple grantor agencies. There were no passthrough identifier numbers identified with the grants above that do not identify a pass-through identifying number.
Title: NOTE 5 RECONCILIATION TO FINANCIAL STATEMENTS
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the “schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the applicable cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Bismarck Public School District No. 1 has not elected to use the 10-percent de minimis cost rate as allowed under the Uniform Guidance.
The schedule of expenditures of federal awards includes $5,723,325 of federal funds expended and related federal revenue that is recorded in the District’s various special revenue funds. These amounts, combined with federal revenues and expenditures in the general fund of $26,506,570
and the Emergency Connectivity Fund of $1,157,160, less revenues of $815,215 for the Regional Workforce Impact Program (RWIP), equals total federal revenue and expenditures of $32,571,841.