Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the applicable cost principles contained in OMB CircularA-87, Cost Principles for State and Local Governments or in Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Award, wherein certain types of expenditures are not allowable orlimited as to reimbursement. Pass-through entity identifying numbers are presented whereavailable.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes thefederal award activity of Nueta Hidatsa Sahnish College under programs of the federalgovernment for the year ended June 30, 2022. The information in this schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the Nueta Hidatsa Sahnish College, it is not intended to and does not present thefinancial position, changes in net position, or cash flows of the Nueta Hidatsa Sahnish College.
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the applicable cost principles contained in OMB CircularA-87, Cost Principles for State and Local Governments or in Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Award, wherein certain types of expenditures are not allowable orlimited as to reimbursement. Pass-through entity identifying numbers are presented whereavailable.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Of the federal expenditures presented in the schedule, Nueta Hidatsa Sahnish College providedfederal awards of $12,207 to the University of Montana.
Title: Outstanding Federal Loans
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the applicable cost principles contained in OMB CircularA-87, Cost Principles for State and Local Governments or in Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Award, wherein certain types of expenditures are not allowable orlimited as to reimbursement. Pass-through entity identifying numbers are presented whereavailable.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College has no federal loan obligations as of June 30, 2022.
Title: Endowments
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the applicable cost principles contained in OMB CircularA-87, Cost Principles for State and Local Governments or in Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Award, wherein certain types of expenditures are not allowable orlimited as to reimbursement. Pass-through entity identifying numbers are presented whereavailable.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The College has $964,057 of federal restricted endowment moneys as of June 30, 2022. 2 CFRPart 200.502(e) states the cumulative balance of Federal awards for endowment funds that arefederally restricted are considered Federal awards expended in each audit period in which thefunds are still restricted, thus $582,036 is considered expended and is shown on the schedule ofexpenditures of federal awards under the following ALs:Cumulative Cumulative CumulativeCurrent Prior Awards Matching BalanceFunding SourceBIA Endowment AL# 15.028 $ 6,812 $ 426,024 $ 432,836 231,221 $ 664,057Title III Endowment AL# 84.031 - 150,000 150,000 150,000 300,000Endowment totals $ 6,812 $ 576,024 $ 582,836 $ 381,221 $ 964,057