Title: NOTE A. BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the basis of modified cash receipts and disbursements. Accordingly, receipts are recognized when cash is received, and disbursements are recognized when cash is disbursed. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes federal award activity of Niobrara Public Schools District No. 1, Niobrara, Nebraska, under programs of the federal government for the year ended August 31, 2024. The information in the 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 Niobrara Public Schools District No.1, Niobrara, Nebraska, it is not intended to and does not present the financial position, chances in net position, or cash flows of Niobrara Public Schools, Niobrara, Nebraska.
Title: NOTE B. BASIS OF ACCOUNTING
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the basis of modified cash receipts and disbursements. Accordingly, receipts are recognized when cash is received, and disbursements are recognized when cash is disbursed. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards is prepared on the basis of modified cash receipts and disbursements. Accordingly, receipts are recognized when cash is received, and disbursements are recognized when cash is disbursed. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE C. SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the basis of modified cash receipts and disbursements. Accordingly, receipts are recognized when cash is received, and disbursements are recognized when cash is disbursed. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate.
There are no subrecipients to the federal awards of Niobrara Public Schools District No. 1, Niobrara, Nebraska.
Title: NOTE D. FOOD DISTRIBUTION
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the basis of modified cash receipts and disbursements. Accordingly, receipts are recognized when cash is received, and disbursements are recognized when cash is disbursed. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate.
Non-monetary assistance is reported in the schedule at fair market value of the commodities received and disbursed.
Title: NOTE E. INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the basis of modified cash receipts and disbursements. Accordingly, receipts are recognized when cash is received, and disbursements are recognized when cash is disbursed. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate.
The District did not elect to use the 10% de minimis cost rate.