Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of School District Number One and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and accounting principles generally accepted in the United States of America.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the de minimis ten percent cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of School District Number One and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and accounting principles generally accepted in the United States of America.
Title: Food Distribution
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of School District Number One and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and accounting principles generally accepted in the United States of America.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the de minimis ten percent cost rate.
Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed as determined by the Montana Office of Public Instruction.
Title: Subrecipient
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of School District Number One and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and accounting principles generally accepted in the United States of America.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the de minimis ten percent cost rate.
The Ramsay Elementary School District, Ramsay, MT receives passthrough grant funds under IDEA Part B and IDEA Part B Preschool as shown in the Schedule of Expenditures of Federal Awards.