Notes to SEFA
Accounting Policies: Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of
accounting and are generally in agreement with the revenues and expenditures reported in the fund financial
statements. Expenditures are recognized following the cost principles contained in the Uniform Guidance and
Wisconsin State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited for
reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A