Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the 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.
De Minimis Rate Used: N
Rate Explanation: The CDA has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards for the Community Development Authority of the City of Wausau, Wisconsin, (the CDA) 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 for Federal Awards (Uniform Guidance).
The schedule of expenditures of federal awards includes all federal awards of the CDA. Because the schedule presents only a selected portion of the operations of the CDA, it is not intended to and does not present the financial position, changes in net position, or cash flows of the CDA.
Title: SUBRECIPIENT PAYMENTS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the 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.
De Minimis Rate Used: N
Rate Explanation: The CDA has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No federal awards were passed through to subrecipients during the year ended December 31, 2023.