Audit 347753

Title: Value of Federal Awards Expended in the form of Noncash Assistance Accounting Policies: Basis of Presentation and Significant Accounting Policies The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Whitefish Public Schools, Flathead County, Montana. The information in this schedule is presented in accordance with the requirements Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of the Whitefish Public Schools, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Whitefish Public Schools. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the basic financial statements. Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. De Minimis Rate Used: N Rate Explanation: The Whitefish Public Schools has elected not to use the 10 percent de Minimis indirect cost rate as provided in Sec. 200.414 Indirect Costs under Uniform Guidance. Food Commodities value equals the fair value at the time of the receipt $61,163.