Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in 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.
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 Little Chute Area 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 State Single Audit Guidelines.
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: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported in 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.
De Minimis Rate Used: N
Rate Explanation: n/a
Expenditures reported in 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.
Little Chute Area School District has not elected 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 in 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.
De Minimis Rate Used: N
Rate Explanation: n/a
2023 - 2024 eligible costs under the State Special Education Program are $3,040,977.
Title: Oversight Agencies
Accounting Policies: Expenditures reported in 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.
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.