Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Dickinson Iron Community Services Agency and Subsidiary under programs of the federal government for the year ended September 30, 2025. 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 Dickinson Iron Community Services Agency and Subsidiary, it is not intended to and does not present the financial position, changes in net assets or cash flows of Dickinson Iron Community Services Agency and Subsidiary.
Expenditures reported on the Schedule are reported on the 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. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. Dickinson Iron Community Services Agency and Subsidiary has elected not to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance. The Organization does not pass through federal funds.
Non-cash assistance (commodities) is reported in the schedule using a value determined by the U.S. Department of Agriculture.
The following summary reconciles total federal awards with the audited consolidated financial statements for the year ended September 30, 2025: Grant revenue per the consolidated statement of activities $ 3,053,434 Contributions of nonfinancial assets per the consolidated statement of activities 426,088 Less non-federal grants (439,090) Less non-federal nonfinancial asset contributions (25,166) Total expenditures of federal awards $ 3,015,266