Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the 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: Y
Rate Explanation: Northeastern Wisconsin Area Health Education Center, Inc. has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state award activity of Northeastern Wisconsin Area Health Education Center, Inc. under programs of the federal and state government for the year ended June 30, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State Single Audit Guidelines. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Northeastern Wisconsin Area Health Education Center, Inc.
Title: OVERSIGHT AGENCIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the 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: Y
Rate Explanation: Northeastern Wisconsin Area Health Education Center, Inc. has elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The federal and state oversight agencies for Northeastern Wisconsin Area Health Education Center, Inc. are the U.S. Department of Health and Human Services and the Wisconsin Department of Health Services, respectively.