Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Accrued revenue at year-end consists of federal and state program expenditures scheduled for reimbursement to the District in the succeeding year while unearned revenue represents advances for federal and state 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: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (schedule) includes the federal award activity of the Berlin Area School District under programs of the federal and state governments for the year ended June 30, 2024. The information in this schedule is presented in accordance with the requirements of 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. Because the schedule represents 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: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Accrued revenue at year-end consists of federal and state program expenditures scheduled for reimbursement to the District in the succeeding year while unearned revenue represents advances for federal and state 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: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the schedule at fair market value of the commodities received and disbursed. At June 30, 2024, the District had food commodities totaling $61,067 .
Title: OVERSIGHT AGENCIES
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Accrued revenue at year-end consists of federal and state program expenditures scheduled for reimbursement to the District in the succeeding year while unearned revenue represents advances for federal and state 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: N
Rate Explanation: The District has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The U.S. Department of Education has been designated the federal oversight agency for the District. The Wisconsin Department of Public Instruction is the state oversight agency for the District.