Title: (1) Basis of Presentation
Accounting Policies: 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 allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: Northwest Arctic Borough, Alaska has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Northwest Arctic Borough, Alaska under programs of the federal government for the year ended June 30, 2024. 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 Northwest Arctic Borough, Alaska, it is not intended to and does not present the basic financial statements of Northwest Arctic Borough, Alaska.
Title: (3) Indirect Cost Rate
Accounting Policies: 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 allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: Northwest Arctic Borough, Alaska has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Northwest Arctic Borough, Alaska has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: (4) Subrecipients
Accounting Policies: 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 allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: Northwest Arctic Borough, Alaska has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Borough did not pass any federal funds through to subrecipients during the year ended June 30, 2024.
Title: (5) Reporting Entity
Accounting Policies: 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 allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: Northwest Arctic Borough, Alaska has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Northwest Arctic Borough, Alaska, for purposes of the supplementary schedule of expenditures of federal awards includes all the funds of the primary government. It does not include the component unit of the Northwest Arctic Borough, Alaska as follows:
The Northwest Arctic Borough School District
The Northwest Arctic Borough, Alaska’s basic financial statements include $32,222,309 in federal awards expended for the Northwest Arctic Borough School District, a component unit of the Northwest Arctic Borough, Alaska. These monies are excluded from this schedule. Separate reports on compliance and internal control dated October 17, 2024, were issued for the Northwest Arctic Borough School District.
Title: (6) Reconciliation of Schedule to the Financial Statements
Accounting Policies: 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 allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: Northwest Arctic Borough, Alaska has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The following program is reported as Intergovernmental-Federal revenues, however, is not subject to compliance in accordance with the Uniform Guidance and OMB Compliance Supplement:
Total Schedule of Expenditures of Federal Awards $ 2,076,599
Payment in lieu of taxes 1,389,739
Total Federal Financial Assistance $ 3,466,338