Notes to SEFA
Title: Note A
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Bozeman School District No. 7 (the District) under programs of the federal government for the year ended June 30, 2024. The information 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimus cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Bozeman School District No. 7 (the District) under programs of the federal government for the year ended June 30, 2024. The information 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the District.
Title: Note B
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Bozeman School District No. 7 (the District) under programs of the federal government for the year ended June 30, 2024. The information 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimus cost rate.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. When applicable, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. No federal assistance has been provided to a subrecipient.
Title: Note C
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the Bozeman School District No. 7 (the District) under programs of the federal government for the year ended June 30, 2024. The information 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the District.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimus cost rate.
The District has not elected to use the 10% de minimus cost rate.