Notes to SEFA
Title: FEDERAL AND STATE AGENCIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes all of the grant activity of the Village of Muscoda, Wisconsin and is presented on the full accrual basis of accounting for grants within the Enterprise funds and on the modified accrual basis of accounting for grants within the Governmental funds. The information in the schedule 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Village does not use the 10 percent de Minimis indirect cost rate allowed under the Uniform Guidance.
The Village’s oversight agency for the audit is the U.S. Department of Commerce.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes all of the grant activity of the Village of Muscoda, Wisconsin and is presented on the full accrual basis of accounting for grants within the Enterprise funds and on the modified accrual basis of accounting for grants within the Governmental funds. The information in the schedule 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Village does not use the 10 percent de Minimis indirect cost rate allowed under the Uniform Guidance.
No awards were passed through to subrecipients.