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 School District of Flambeau 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 Principals, and Audit Requirements for Federal Awards (Uniform Guidance) and the State Single Audit
Guidelines and the Wisconsin Department of Instruction in the Wisconsin School District Audit Manual. 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.
School District of Flambeau 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 $899,848.
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 oversight agency is the U.S. Department of Education. The District’s state cognizant agency is
the Wisconsin Department of Public Instruction.