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, with the exception of Assistance Listing number 21.027, which follows criteria determined by the Department of Treasury for allowability of costs. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City did not use the de minimis cost rate.
The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City. The information in this 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). Because the Schedule presents 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. The schedule of expenditures of state awards includes all of the state funds subject to the Wisconsin State Single Audit Guidelines. The reporting entity for the City is based upon criteria established by the Governmental Accounting Standards Board.
Title: Subrecipients
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, with the exception of Assistance Listing number 21.027, which follows criteria determined by the Department of Treasury for allowability of costs. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City did not use the de minimis cost rate.
The City did not provide federal or state awards to subrecipients during the year ended December 31, 2023.
Title: Indirect Cost Allocation
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, with the exception of Assistance Listing number 21.027, which follows criteria determined by the Department of Treasury for allowability of costs. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The City did not use the de minimis cost rate.
The City did not elect to use the 10 percent de minimis indirect cost rate for the year ended December 31, 2023.