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 State Single Audit Guidelines, wherein certain types of expenditures are not allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying “Schedule of Expenditures of Federal and State Awards” includes the federal grant activity of Wisconsin Balance of State Continuum of Care, Inc. The information in this schedule is presented in accordance with the Uniform Guidance and State Single Audit Guidelines. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.
Title: Oversight Agency
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 State Single Audit Guidelines, wherein certain types of expenditures are not allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Federal oversight agency for Wisconsin Balance of State Continuum of Care, Inc. is the U.S. Department of Housing and Urban Development.