Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Expenditures reported on the schedules 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 schedules of expenditures of federal awards and state financial assistance include
the federal and state grant activity of School District of Crandon 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: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedules 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 schedules 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.
The School District of Crandon has elected not to use the 10 percent de minimis indirect cost rate
as allowable
under the Uniform Guidance.
Title: Note 3 – Special Education and School Age Parents Program
Accounting Policies: Expenditures reported on the schedules 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
2023 - 2024 eligible costs under the State Special Education Program are $1,709,182.
Title: Note 4 – Oversight Agencies
Accounting Policies: Expenditures reported on the schedules 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 District’s federal oversight agency is the U.S. Department of Education. The Districts state
cognizant agency is
the Wisconsin Department of Public Instruction.