Notes to SEFA
The schedule of expenditures of federal awards presents the activities of federal award programs expended by Independent School District No. 413, Marshall, Minnesota. The District’s reporting entity is defined in Note 1 to the basic financial statements found in the audit of the financial statements.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Independent School District No. 413, Marshall, Minnesota, under programs of the federal government for the year ended June 30, 2025. 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 the District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Independent School District No. 413, Marshall, Minnesota.
Independent School District No. 413, Marshall, Minnesota, did not provide loan programs or loan guarantee programs, accordingly, there are no year-end loan balances.