Notes to SEFA
Accounting Policies: NOTE 1 GENERALThe accompanying schedules of expenditures of federal awards and state financialassistance (the Schedules) include the federal and state award activity of the District underprograms of the federal and state governments for the year ended June 30, 2022. Theinformation in these Schedules is presented in accordance with the requirements of 2 CFRPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance) and the Wisconsin State Single Audit Guidelines.Because the Schedules present only a selected portion of the operations of the District, theyare not intended to and do not present the financial position or changes in net position of theDistrict.NOTE 2 BASIS OF ACCOUNTINGThe accompanying schedules of expenditures of federal awards and state financialassistance are presented using the modified accrual basis of accounting, which is describedin Note 1 to the Districts financial statements. Such expenditures are recognized followingthe cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.