Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal, state, and other awards (the “Schedule”) includes the federal, state, and local grant activity of Lad Lake, Inc. and Affiliate (the "Organization") under programs of the federal, state, and local governments for the year ended December 31, 2024. The information in the Schedule is presented in accordance with requirements of the 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 of Wisconsin State Single Audit Guidelines. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
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 reimbursement. Pass through entity identifying numbers are presented where available.
Title: Sub Recipients
Accounting Policies: The accompanying schedule of expenditures of federal, state, and other awards (the “Schedule”) includes the federal, state, and local grant activity of Lad Lake, Inc. and Affiliate (the "Organization") under programs of the federal, state, and local governments for the year ended December 31, 2024. The information in the Schedule is presented in accordance with requirements of the 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 of Wisconsin State Single Audit Guidelines. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization does not have any sub recipients of federal, state, or other awards.
Title: Commingled Federal, State, and Local Funds
Accounting Policies: The accompanying schedule of expenditures of federal, state, and other awards (the “Schedule”) includes the federal, state, and local grant activity of Lad Lake, Inc. and Affiliate (the "Organization") under programs of the federal, state, and local governments for the year ended December 31, 2024. The information in the Schedule is presented in accordance with requirements of the 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 of Wisconsin State Single Audit Guidelines. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Certain grantors provide funding consisting of federal, state, and local funds that are commingled and the commingled portion cannot be separated to identify the individual funding sources. For these sources, the total amount is included in the Schedule as other awards and funding.