Notes to SEFA
Title: Note 2. Contingencies
Accounting Policies: NOTE 1. BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of Niobrara County School District No. One (District) and is prepared on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has not used the de minimis 10% indirect cost rate.
The District receives funds under various federal grant programs and such assistance is to be expended in accordance with the provisions of the various grants. Compliance with the grants is subject to audit by various government agencies which may impose sanctions in the event of noncompliance. Management believes that they have complied with all aspects of the various grant provisions and the results of adjustment, if any, relating to such audits would not have a material impact.
Title: Note 3. Subrecipients
Accounting Policies: NOTE 1. BASIS OF PRESENTATION The accompanying schedule of expenditures of federal awards includes the federal grant activity of Niobrara County School District No. One (District) and is prepared on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has not used the de minimis 10% indirect cost rate.
The District did not have any subrecipients.