Audit 363560

Title: BASIS OF PRESENTATION Accounting Policies: Expenditures reported on the Schedule are reported on the 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. De Minimis Rate Used: N Rate Explanation: The West Central Wisconsin Regional Planning Commission has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the West Central Wisconsin Regional Planning Commission under programs of the federal government for the year ended December 31, 2024. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the West Central Wisconsin Regional Planning Commission, it is not intended to and does not present the financial position, changes in net position, or cash flows of the West Central Wisconsin Regional Planning Commission.

Title: ECONOMIC DEVELOPMENT ADMINISTRATION (EDA) REVOLVING LOAN FUND (RLF) Accounting Policies: Expenditures reported on the Schedule are reported on the 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. De Minimis Rate Used: N Rate Explanation: The West Central Wisconsin Regional Planning Commission has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The expenditures of the EDA RLF is as follows: Balance of RLF principal outstanding on loans at the end of the fiscal year, plus $462,475 Cash and investment balance in the RLF at end of the fiscal year, plus $ 45,742 Administrative expenses paid using RLF income during fiscal year, plus $3,896 Administrative expense paid using award funds designated for administrative expenses during fiscal year, plus $0.00 Unpaid principal of all loans written off during the fiscal year $7,616 $519,729 Multiply the above sum by the federal share of RLF award (per grant award) 100% Total Expenditures for SEFA $519,729