Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Teton County School District No. 1 and is presented on the modified accrual basis of accounting. 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).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The District applied for and was approved by the State of Wyoming, Department of Education to use a 3.96% indirect cost rate for restricted programs and 6.01% indirect cost rate for unrestricted programs. These rates were approved for the period July 1, 2020 though June 30, 2023.