Notes to SEFA
Accounting Policies: CAWS North DakotaNotes to Schedule of Expenditures of Federal AwardsFor the Year Ending September 30, 2022NOTE 1 PURPOSE OF SCHEDULEThe Schedule of Expenditures of Federal Awards (schedule) is a supplementary schedule to the financialstatements and is presented for purposes of additional analysis. The schedule is required by Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance).NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESA. Basis of PresentationFederal Financial Assistance - Pursuant to the Uniform Guidance, federal financial assistance is definedas assistance that nonfederal entities receive or administer in the form of grants, cooperative agreements,loans, loan guarantees, property (including donated surplus property), interest subsidies, insurance, foodcommodities, direct appropriations and other assistance, but does not include amounts received asreimbursements for services rendered to individuals. Accordingly, nonmonetary federal assistance may beincluded in federal financial assistance and therefore, may be reported on the schedule. Federal financialassistance does not include direct federal cash assistance to individuals.Assistance Listing Number Uniform Guidance requires the schedule to show the total expenditures foreach of the federal financial assistance programs as identified in the Assistance Listing Number (ALN).The ALN is a government wide compendium of individual federal programs. Pass-through entityidentifying numbers are presented where available.B. Major ProgramsThe Uniform Guidance established the levels of expenditures to be used in defining major federalfinancial assistance programs. The dollar threshold to distinguish type A and type B programs was$750,000.C. Reporting EntityThe schedule includes all federal financial assistance programs administered by the association.D. Basis of AccountingFederal financial assistance expenditures included in the schedule are reported using the modified cashbasis of accounting.E. ElectionsThe Association has not elected to use the 10 percent de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.