Audit 345659

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 reibursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. De Minimis Rate Used: N Rate Explanation: North Central Wisconsin Workforce Development Board, Inc. has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal and State Awards (SEFA) and other financial assistance includes the federal and state grant activity of North Central Wisconsin Workforce Development Board, Inc. (NCWWDB), and is presented on the accrual basis of accounting 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 State Single Audit Guidelines. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.