Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Anaconda School District #10 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and accounting principles generally accepted in the United States of America.
The District has not elected to use the de minimis ten percent cost rate but uses an indirect cost rate assigned by the Montana Office of Public Instruction which is less than the 10% de minimis indirect cost rate allowed under Uniform Guidance.
Non-monetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed as determined by the Montana Office of Public Instruction.