Notes to SEFA
Title: Basis of Presentation
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, and
as applicable, the cost principles contained in the Wisconsin State Single Audit Guidelines, 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: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedules of expenditures of federal and state awards (the “Schedules”) includes
the federal and state award activity of the District under programs of the federal and state government
for the year ended June 30, 2023. The information in the Schedules are 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) and
the Wisconsin State Single Audit Guidelines. Therefore, some amounts presented in the Schedules
may differ from amounts presented in, or used in, the preparation of the basic financial statements.
Because the schedules present only a selected portion of the operations of the District, it is not
intended to and does not present the net financial position, changes in fund balance or cash flows of
the District. All federal and state awards received directly from federal and state agencies as well as
federal and state financial awards passed through other government agencies are included on the
schedule.
Title: Summary of Significant Accounting Policies
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, and
as applicable, the cost principles contained in the Wisconsin State Single Audit Guidelines, 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: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
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, and
as applicable, the cost principles contained in the Wisconsin State Single Audit Guidelines, 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.
Title: Indirect Cost Rate
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, and
as applicable, the cost principles contained in the Wisconsin State Single Audit Guidelines, 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: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Noncash Awards
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, and
as applicable, the cost principles contained in the Wisconsin State Single Audit Guidelines, 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: The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The federal donated commodities in the Schedule of Expenditures of Federal Awards in the Child
Nutrition Cluster is administered by the U.S. Department of Agriculture and passed through the
Wisconsin Department of Public Instruction. Transactions related to this program are included in the
basic financial statements. Commodities received during the fiscal year are included in the federal
expenditures presented in the Schedule of Expenditures of Federal Awards. There are no balances
outstanding as of June 30, 2023.