Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedules are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedules of expenditures of federal awards and state financial assistance include the federal and
state grant activity of the Menominee Indian School District under programs of the federal and state governments for
the year ended June 30, 2024. The information in these schedules is presented in accordance with the requirements
of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance) and the Wisconsin School District Audit Manual. Because
the schedule presents only a select portion of operations of the District, it is not intended to, and does not, present the
financial position and change in net position of the District.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedules are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported on the schedules are reported on the modified 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.
Menominee Indian School District has elected not to use the 10 percent de minims indirect cost rate as allowable under
the Uniform Guidance.
Title: Special Education and School Age Parents Program
Accounting Policies: Expenditures reported on the schedules are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: N/A
2023 - 2024 eligible costs under the State Special Education Program were $2,079,509.
Title: Oversight Agencies
Accounting Policies: Expenditures reported on the schedules are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: N/A
The District’s federal oversight agency is the U.S. Department of Education. The District’s state cognizant agency is the
Wisconsin Department of Public Instruction.