Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Revenues and expenditures in the Schedule are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the District’s 2024 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited to reimbursement. Accrued revenue at year-end consists of federal program expenditures scheduled for reimbursement to the District in the succeeding year while unearned revenue represents advances for federal programs that exceed recorded District expenditures. Because of subsequent program adjustments, these amounts may differ from the prior year’s ending balances.
De Minimis Rate Used: Y
Rate Explanation: The District has not elected to charge a de minimis rate of 10% of modified total costs.
The accompanying schedules of expenditures of federal and state awards for the Marinette School District are presented in accordance with the requirements of the 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 Single Audit Guidelines issued by the Wisconsin Department of Administration.
The schedules of expenditures of federal and state awards include all federal and state awards of the District. Because the schedules present only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
Title: FOOD DISTRIBUTION
Accounting Policies: Revenues and expenditures in the Schedule are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the District’s 2024 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited to reimbursement. Accrued revenue at year-end consists of federal program expenditures scheduled for reimbursement to the District in the succeeding year while unearned revenue represents advances for federal programs that exceed recorded District expenditures. Because of subsequent program adjustments, these amounts may differ from the prior year’s ending balances.
De Minimis Rate Used: Y
Rate Explanation: The District has not elected to charge a de minimis rate of 10% of modified total costs.
Nonmonetary assistance is reported in the schedule of expenditures of federal awards at the fair market value of the commodities received and disbursed.
Title: PASS THROUGH ENTITIES
Accounting Policies: Revenues and expenditures in the Schedule are presented in accordance with the modified accrual basis of accounting and are generally in agreement with revenues and expenditures reported in the District’s 2024 fund financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited to reimbursement. Accrued revenue at year-end consists of federal program expenditures scheduled for reimbursement to the District in the succeeding year while unearned revenue represents advances for federal programs that exceed recorded District expenditures. Because of subsequent program adjustments, these amounts may differ from the prior year’s ending balances.
De Minimis Rate Used: Y
Rate Explanation: The District has not elected to charge a de minimis rate of 10% of modified total costs.
Federal awards have been passed through the following entities:
WI DHS - Wisconsin Department of Health Services
WI DPI - Wisconsin Department of Public Instruction
CESA #8 - Cooperative Educational Service Agency #8
Clintonville Public School District