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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: The Organization did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance through June 30, 2023. Beginning July 1, 2023, the Organization elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) and list of programs includes the Organization’s federal grant activity under programs of the federal government for the year ended December 31, 2023. The information in the Schedule 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”) and the State of Wisconsin State Single Audit Guidelines. Because the Schedule presents only a selected portion of the Organization’s operations, it is not intended to, and does not, present the Organization’s financial position, its changes in net assets, or its cash flows.
Title: Subrecipient Expenditures
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: The Organization did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance through June 30, 2023. Beginning July 1, 2023, the Organization elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization does not have any subrecipients; therefore, no subrecipient expenditures are included in the Schedule.
Title: Indirect Costs
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Both
Rate Explanation: The Organization did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance through June 30, 2023. Beginning July 1, 2023, the Organization elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance through June 30, 2023. Beginning July 1, 2023, the Organization elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.