Notes to SEFA
Title: Basis of Presentations
Accounting Policies: Expenditures reported on the Schedules are reported on the modified 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 shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Explanations are in each note.
The accompanying schedules of expenditures of federal awards and state financial assistance includes the federal and state award activity of the School District of Grantsburg under programs of the federal and state governments for the year ended June 30, 2023. The information in these Schedules 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 of Federal Awards (Uniform Guidance), the Wisconsin State Single Audit Guidelines, and the Wisconsin Public Schools District Audit Manual. Because the Schedules present only a selected portion of the operations of the School District of Grantsburg, they are not intended to and do not present the financial position, changes in net position, or cash flows of the School District of Grantsburg.
Title: Food Distrubution
Accounting Policies: Expenditures reported on the Schedules are reported on the modified 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 shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Explanations are in each note.
Nonmonetary assistance is reported in the schedule of expenditures of federal awards at the fair market value of the commodities received and disbursed, $47,422. At June 30, 2023, the District had an immaterial amount of food commodities in inventory.
Title: Medical Assistance
Accounting Policies: Expenditures reported on the Schedules are reported on the modified 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 shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Explanations are in each note.
Expenditures presented for Medicaid School Based Services (SBS) Benefit represent only the federal funds for the program that the District receives from the Wisconsin Department of Health Services (DHS). District records should be consulted to determine the total amount expended for this program.
Title: Special Education and School Aged Parents Program
Accounting Policies: Expenditures reported on the Schedules are reported on the modified 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 shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Explanations are in each note.
2022 – 2023 eligible costs under the State Special Education Program are $1,076,258.
Title: Oversight Agencies
Accounting Policies: Expenditures reported on the Schedules are reported on the modified 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 shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Explanations are in each note.
The District’s federal oversight agency is the U.S. Department of Education. The District’s state cognizant agency is the Wisconsin Department of Public Instruction.