Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting, which is described in the notes to the financial statements. Such expenditures are recognized following the 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 Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Red Cloud Indian School, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Red Cloud Indian School, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Red Cloud Indian School, Inc., 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. Because the Schedule presents only a selected portion of the operations of the Red Cloud Indian School, Inc., it is not intended to and does not present the financial position, changes in net position, or cash flows of the Red Cloud Indian School, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting, which is described in the notes to the financial statements. Such expenditures are recognized following the 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 Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Red Cloud Indian School, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Red Cloud Indian School, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting, which is described in the notes to the financial statements. Such expenditures are recognized following the 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 Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Red Cloud Indian School, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.