Audit 331545

Title: NOTE A - SUMMARY OF SIGNIGICANT ACCOUNTING POLICIES Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Park Count School District Number 6 and is presented on the modified accrual basis of accounting, except for amounts presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. De Minimis Rate Used: Y Rate Explanation: The District is eligible to apply a 10%-14% de minimis indirect cost rate on certain grants that have been awarded. The District has evaluated the application of indirect costs on a grant-by-grant basis. The accompanying schedule of expenditures of federal awards includes the federal grant activity of Park Count School District Number 6 and is presented on the modified accrual basis of accounting, except for amounts presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. The District is eligible to apply a 10%-14% de minimis indirect cost rate on certain grants that have been awarded. The District has evaluated the application of indirect costs on a grant-by-grant basis.

Title: NOTE B - COMMODITIES Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Park Count School District Number 6 and is presented on the modified accrual basis of accounting, except for amounts presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. De Minimis Rate Used: Y Rate Explanation: The District is eligible to apply a 10%-14% de minimis indirect cost rate on certain grants that have been awarded. The District has evaluated the application of indirect costs on a grant-by-grant basis. Nonmonetary assistance, such as food received from the United States Department of Agriculture is reported as revenue at fair market value.

Title: NOTE C - SUBRECIPIENTS Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Park Count School District Number 6 and is presented on the modified accrual basis of accounting, except for amounts presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. De Minimis Rate Used: Y Rate Explanation: The District is eligible to apply a 10%-14% de minimis indirect cost rate on certain grants that have been awarded. The District has evaluated the application of indirect costs on a grant-by-grant basis. Park County School District Number 6 has no subrecipients that receive federal funds that are passed through the District.