Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the City’s 2023 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State Single Audit Guidelines. Under these cost principles, 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. Accrued revenue at year-end consists of federal and state program expenditures scheduled for reimbursement to the City in the succeeding year while unearned revenue represents advances for federal and state programs that exceed recorded City expenditures. Because of subsequent program adjustments, these amounts may differ from the prior year’s ending balances.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to charge a de minimis rate of 10% of modified total costs.
The accompanying schedules of expenditures of federal and state awards for the City 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 State Single Audit Guidelines issued by the Wisconsin Department of Administration.
The schedules of expenditures of federal and state awards include all federal and state awards of the City. Because the schedules present only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City.
Title: OVERSIGHT AGENCIES
Accounting Policies: Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the City’s 2023 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State Single Audit Guidelines. Under these cost principles, 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. Accrued revenue at year-end consists of federal and state program expenditures scheduled for reimbursement to the City in the succeeding year while unearned revenue represents advances for federal and state programs that exceed recorded City expenditures. Because of subsequent program adjustments, these amounts may differ from the prior year’s ending balances.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to charge a de minimis rate of 10% of modified total costs.
The federal and state oversight agencies for the City are as follows:
Federal U.S. Department of Transportation - Federal Transit Administration
U.S. Department of Housing and Urban Development
State Wisconsin Department of Transportation
Wisconsin Department of Natural Resources
Wisconsin Department of Administration
Title: STATE OF WISCONSIN COMMUNITY AIDS REPORTING SYSTEM
Accounting Policies: Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the City’s 2023 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State Single Audit Guidelines. Under these cost principles, 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. Accrued revenue at year-end consists of federal and state program expenditures scheduled for reimbursement to the City in the succeeding year while unearned revenue represents advances for federal and state programs that exceed recorded City expenditures. Because of subsequent program adjustments, these amounts may differ from the prior year’s ending balances.
De Minimis Rate Used: Y
Rate Explanation: The City has elected to charge a de minimis rate of 10% of modified total costs.
The Wisconsin Department of Health Services (DHS) utilizes the Grant Enrollment Application and Reporting System (GEARS) for reimbursing the City for various federal and state program expenditures. The expenditures reported on the Schedules of Expenditures of Federal and State Awards for various DHS programs agree with the expenditures reported on the April 2024 GEARS for the Health Services.