Notes to SEFA
Title: 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 Gillett 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 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.
Gillett School District has not elected to use the 10 percent de minimis 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 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 $1,521,611.
Title: 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 agency oversight agency is the U.S. Department of Education. The District’s state cognizant
agency is the Wisconsin Department of Public Instruction.