Notes to SEFA
Title: N/A
Accounting Policies: Expenditures reported on the schedules are reported on the modified accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Hortonville Area School District has elected no to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance. Pass-through entityu identifying numbers are presented where applicable.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
N/A