Audit 322914

Title: Note 4: Sub-Recipients Accounting Policies: The accompanying schedule of expenditures of federal awards and state awards includes the federal and state grant activity of the City of Menomonie under programs of the federal and state government for the year ended December 31, 2023. The information in these schedules 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 (the “Uniform Guidance”) and State of Wisconsin Single Audit Guidelines. Because the schedules present only a selected portion of the operations of the City of Menomonie, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City of Menomonie. Expenditures reported on the schedules 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. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: City of Menomonie has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The City of Menomonie does not have any sub-recipients of federal or state awards.