Title: PURPOSE OF SCHEDULE
Accounting Policies: A. Basis of Presentation
Federal Financial Assistance - Pursuant to the Uniform Guidance, federal financial assistance is defined as assistance that nonfederal entities receive or administer in the form of grants, cooperative agreements, loans, loan guarantees, property (including donated surplus property), interest subsidies, insurance, food commodities, direct appropriations and other assistance, but does not include amounts received as reimbursements for services rendered to individuals. Accordingly, nonmonetary federal assistance may be included in federal financial assistance and therefore, may be reported on the schedule. Mandan Public School District No. 1 received nonmonetary federal assistance in the form of food commodities during the year ended June 30, 2024. Federal financial assistance does not include direct federal cash assistance to individuals.
Assistance Listing – Uniform Guidance requires the schedule to show the total expenditures for each of the federal financial assistance programs as identified in the Assistance Listing (AL). The AL is a government wide compendium of individual federal programs.
B. Major Programs
The Uniform Guidance established the levels of expenditures to be used in defining major federal financial assistance programs. The dollar threshold to distinguish type A and type B programs was $750,000.
C. Reporting Entity
The schedule includes all federal financial assistance programs administered by the organization.
D. Basis of Accounting
Federal financial assistance expenditures included in the schedule are reported using the modified
accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10 percent de minimis indirect cost rate.
The Schedule of Expenditures of Federal Awards (schedule) is a supplementary schedule to the financial
statements and is presented for purposes of additional analysis. The schedule is required by Title 2 U.S. Code
of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance).
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: A. Basis of Presentation
Federal Financial Assistance - Pursuant to the Uniform Guidance, federal financial assistance is defined as assistance that nonfederal entities receive or administer in the form of grants, cooperative agreements, loans, loan guarantees, property (including donated surplus property), interest subsidies, insurance, food commodities, direct appropriations and other assistance, but does not include amounts received as reimbursements for services rendered to individuals. Accordingly, nonmonetary federal assistance may be included in federal financial assistance and therefore, may be reported on the schedule. Mandan Public School District No. 1 received nonmonetary federal assistance in the form of food commodities during the year ended June 30, 2024. Federal financial assistance does not include direct federal cash assistance to individuals.
Assistance Listing – Uniform Guidance requires the schedule to show the total expenditures for each of the federal financial assistance programs as identified in the Assistance Listing (AL). The AL is a government wide compendium of individual federal programs.
B. Major Programs
The Uniform Guidance established the levels of expenditures to be used in defining major federal financial assistance programs. The dollar threshold to distinguish type A and type B programs was $750,000.
C. Reporting Entity
The schedule includes all federal financial assistance programs administered by the organization.
D. Basis of Accounting
Federal financial assistance expenditures included in the schedule are reported using the modified
accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10 percent de minimis indirect cost rate.
A. Basis of Presentation
Federal Financial Assistance - Pursuant to the Uniform Guidance, federal financial assistance is defined as assistance that nonfederal entities receive or administer in the form of grants, cooperative agreements, loans, loan guarantees, property (including donated surplus property), interest subsidies, insurance, food commodities, direct appropriations and other assistance, but does not include amounts received as reimbursements for services rendered to individuals. Accordingly, nonmonetary federal assistance may be included in federal financial assistance and therefore, may be reported on the schedule. Mandan Public School District No. 1 received nonmonetary federal assistance in the form of food commodities during the year ended June 30, 2024. Federal financial assistance does not include direct federal cash assistance to individuals.
Assistance Listing – Uniform Guidance requires the schedule to show the total expenditures for each of the federal financial assistance programs as identified in the Assistance Listing (AL). The AL is a government wide compendium of individual federal programs.
B. Major Programs
The Uniform Guidance established the levels of expenditures to be used in defining major federal financial assistance programs. The dollar threshold to distinguish type A and type B programs was $750,000.
C. Reporting Entity
The schedule includes all federal financial assistance programs administered by the organization.
D. Basis of Accounting
Federal financial assistance expenditures included in the schedule are reported using the modified
accrual basis of accounting. E. Elections
The District has not elected to use the 10 percent de minimis indirect cost rate.