Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual or 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. Negative amounts shown on the Schedules 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.
The underlying accounting records for some grant programs are maintained on the modified accrual basis of accounting. Under the modified accrual basis, revenues are recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability is incurred. The accounting records for other grant programs are maintained on the accrual basis, i.e., when the revenue has been earned and the liability is incurred. Program income is reported as revenue in the year that it is received
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10% de minimis indirect cost rate of the Uniform Guidance.
The accompanying schedules of expenditures of federal and state awards (the Schedules) includes the federal and state award activity of the City of Waukesha (City) under programs of the federal and state government for the year ended December 31, 2023. The information in these Schedules 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 the State Single Audit Guidelines. Because the Schedules present only a selected portion of the operations of the City, they are not intended to and do not present the financial position, changes in net position or cash flows of the City.
Title: Restatement of Previously Issued Schedule of Expenditures of Federal Awards
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual or 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. Negative amounts shown on the Schedules 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.
The underlying accounting records for some grant programs are maintained on the modified accrual basis of accounting. Under the modified accrual basis, revenues are recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. Expenditures are recorded when the liability is incurred. The accounting records for other grant programs are maintained on the accrual basis, i.e., when the revenue has been earned and the liability is incurred. Program income is reported as revenue in the year that it is received
De Minimis Rate Used: N
Rate Explanation: The City has not elected to use the 10% de minimis indirect cost rate of the Uniform Guidance.
Subsequent to the issuance of the City of Waukesha’s single audit report for the year ended December 31, 2023, the City identified an omission of a federal grant from the schedule of expenditures of federal and state awards. The differences between this report and the report previously issued includes the addition of $1,680,584 in funding received from the U.S. Environmental Protection Agency under Assistance Listing Number (ALN) 66.458 Capitalization Grants for Clear Water State Revolving Funds. In addition, ALN 66.458 was tested as a major federal program and audit finding 2023-002 was reported in the Financial Statement Findings Required to be Reported in Accordance With Government Auditing Standards section of the schedule of findings and question costs.