Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of the District under programs of the federal government for the year ended June 30, 2025. The information 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 the District, it is not intended to and does not present the financial position or changes in net position or fund balance of the District.
Expenditures reported in the schedule are reported on the modified accrual basis of accounting. When applicable, 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. No federal financial assistance has been provided to a subrecipient.
The District has not elected to use the 10% de mimimis cost rate. The Montana Office of Public Instruction (OPI) has a process to determine the indirect cost rate for each school district in Montana. In completing the application, the District's indirect cost rate that was approved by OPI was determined to be 4.17% for the year ended June 30, 2025.
As allowed by federal regulations, the District elected to transfer program funds. The District expended $515,917 from its Title II, Part A Grants (84.367) and $20,982 from its Title II, Part A Grants (84.365) on allowable activities of the Title I, Part A Grants (84.010). These amounts are reflected in the expenditures of Title I, Part A Grants (84.010).