Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of Belmond-Klemme Community school District under programs of the federal government for the year end 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 Admistrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Belmond-Klemme Community School Distirct, it is not intended to and does not present the financial position, changes in financial position or cash flows of Belmond-Klemme Community School Distirct.
Expenditures reported in the Schedule are reported on the accrual or 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.
Belmond-Klemme Community School Distirct uses a federally negotiated indirect cost rate as allowed under the Uniform Guidance.
There were no awards passed through to subrecipients by Belmond-Klemme community School District.