Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule 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 schedule of expenditures of federal awards includes the federal grant activity of Ginseng
Board of Wisconsin, Inc. under programs of the federal 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for
Federal Awards (Uniform Guidance). Because the schedule presents only a select portion of operations of the
Organization, it is not intended to, and does not, present the financial position and change in net position of the
Organization.
Title: Summary of Significant Accounting Polices
Accounting Policies: Expenditures reported on the schedule 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 on the schedule 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.
Ginseng Board of Wisconsin, Inc. has not elected to use the 10 percent de minimis indirect cost rate as allowable
under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule 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
Of the federal expenditures presented in the schedule, Ginseng Board of Wisconsin, Inc. provided no federal
awards to subrecipients.
Title: Oversight Agency
Accounting Policies: Expenditures reported on the schedule 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 agency is the United States Department of Agriculture.