Notes to SEFA
Title: Note 4: Food Distribution
Accounting Policies: Expenditures reported on the Schedule are reported in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Wisconsin Public School District Audit Manual, 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 asexpenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in the schedule of expenditures of federal awards at the fair market value of the commodities received and disbursed, $18,698. At June 30, 2022, the District had an immaterial amount of food commodities in inventory.
Title: Note 5: Medical Assistance
Accounting Policies: Expenditures reported on the Schedule are reported in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Wisconsin Public School District Audit Manual, 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 asexpenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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: Note 6: Special Education and School Age Parents Program
Accounting Policies: Expenditures reported on the Schedule are reported in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Wisconsin Public School District Audit Manual, 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 asexpenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
2021 2022 eligible costs under the State Special Education Program are $1,763,049.
Title: Note 7: Oversight Agencies
Accounting Policies: Expenditures reported on the Schedule are reported in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Wisconsin Public School District Audit Manual, 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 asexpenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Districts federal oversight agency is the U.S. Department of Education. The Districts state cognizant agency is the Wisconsin Department of Public Instruction.
Title: Note 3: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Wisconsin Public School District Audit Manual, 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 asexpenditures in prior years.
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 the federal award activity of the Northwood School District under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of the Wisconsin Public School District Audit Manual. Because the Schedule presents only a selected portion of the operations of the Northwood School District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Northwood School District.