Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “Schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the applicable cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Minot Public School District No. 1 has not elected to use the 10-percent de minimis cost rate as allowed under the Uniform Guidance.
The accompanying Schedule includes the federal award activity of Minot Public School District No. 1 under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Minot Public School District No. 1, it is not intended to and does not present the net position, changes in net position, or cash flows of Minot Public School District No. 1.
Title: AGENCY OR PASS-THROUGH NUMBER
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (the “Schedule”) are reported on the accrual basis of accounting. Such expenditures are recognized following the applicable cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Award, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Minot Public School District No. 1 has not elected to use the 10-percent de minimis cost rate as allowed under the Uniform Guidance.
Minot Public School District No. 1 received money passed through from multiple grantor agencies. There were no pass-through numbers identified with these grants identified above.