Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Expenditures reported in 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 Unity 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 Principals, and Audit Requirements for Federal Awards
(Uniform Guidance), the State Single Audit Guidelines, and the Wisconsin Department of Public
Instruction in the Wisconsin School District Audit Manual. Because the schedules present only a
select portion of operations of the District, they are not intended to, and do not, present
the financial position and change in net position of the District.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in 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 in 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.
Unity School District has not elected to use the 10 percent de minims indirect cost rate as allowable under the
Uniform Guidance.
Title: Note 3 – Special Education and School Age Parents Program
Accounting Policies: Expenditures reported in 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 are $1,808,677.
Title: Note 4 – Oversight Agencies
Accounting Policies: Expenditures reported in 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.