Notes to SEFA
Title: GENERAL
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance are presented using the accrual basis of accounting, which is described in Note 1 to the Agency’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10% de minimus indirect cost rate.
The accompanying schedules of expenditures of federal awards and state financial assistance present the expenditures of all federal financial assistance programs and state financial assistance of the Agency subject to inclusion under the federal and state single audit requirements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State of Wisconsin Single Audit Guide, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The reporting entity is defined in Note 1 to the financial statements. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State Single Audit Guidelines. Because the Schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Agency.