Audit 334796

Title: Note C – Commodity Food Received Accounting Policies: Note A- Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Pershing County School District under programs of the federal government. The information in this Schedule 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 Pershing County School District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Pershing County School District. Note B- Summary of Significant Accounting Policies Basis of Accounting Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowed or are limited as reimbursement. When applicable, negative amount shown on the Schedule represent adjustments or credits made in the normal course of business as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. However, the Nevada Department of Education approved an indirect cost rate of 4.52% for fiscal year 2024 which was applied to certain grants with prior budgetary approval. The District reports commodity food received from the U.S. Department of Agriculture at the fair value of the commodities received.

Title: Note C – Commodity Food Received Accounting Policies: Note A- Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Pershing County School District under programs of the federal government. The information in this Schedule 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 Pershing County School District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Pershing County School District. Note B- Summary of Significant Accounting Policies Basis of Accounting Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowed or are limited as reimbursement. When applicable, negative amount shown on the Schedule represent adjustments or credits made in the normal course of business as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. However, the Nevada Department of Education approved an indirect cost rate of 4.52% for fiscal year 2024 which was applied to certain grants with prior budgetary approval. The District reports commodity food received from the U.S. Department of Agriculture at the fair value of the commodities received.

Title: Note D - Subrecipients Accounting Policies: Note A- Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Pershing County School District under programs of the federal government. The information in this Schedule 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 Pershing County School District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Pershing County School District. Note B- Summary of Significant Accounting Policies Basis of Accounting Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowed or are limited as reimbursement. When applicable, negative amount shown on the Schedule represent adjustments or credits made in the normal course of business as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The District has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. However, the Nevada Department of Education approved an indirect cost rate of 4.52% for fiscal year 2024 which was applied to certain grants with prior budgetary approval. The District did not pass through any federal awards received to subrecipients.