Title: Note 1: Basis of Presentation
Accounting Policies: Expenditures in the schedule are presented in accordance with the full accrual basis of accounting and are
generally in agreement with expenditures reported in the Commission’s 2024 financial statements. Accrued
revenue at year-end consists of federal program expenditures scheduled for reimbursement to the Commission
in the succeeding year while unearned revenue represents advances for federal programs that exceed recorded
Commission expenditures. Because of subsequent program adjustments, these amounts may differ from the
prior year’s ending balances. 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: N/A
The accompanying schedule of expenditures of federal awards for the Commission 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).
The schedule of expenditures of federal awards includes all federal awards of the Commission. Because the
schedule presents only a selected portion of the operations of the Commission, it is not intended to and does
not present the financial position, changes in net position, or cash flows of the Commission.
Title: Note 2: Significant Accounting Policies
Accounting Policies: Expenditures in the schedule are presented in accordance with the full accrual basis of accounting and are
generally in agreement with expenditures reported in the Commission’s 2024 financial statements. Accrued
revenue at year-end consists of federal program expenditures scheduled for reimbursement to the Commission
in the succeeding year while unearned revenue represents advances for federal programs that exceed recorded
Commission expenditures. Because of subsequent program adjustments, these amounts may differ from the
prior year’s ending balances. 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: N/A
Expenditures in the schedule are presented in accordance with the full accrual basis of accounting and are
generally in agreement with expenditures reported in the Commission’s 2024 financial statements. Accrued
revenue at year-end consists of federal program expenditures scheduled for reimbursement to the Commission
in the succeeding year while unearned revenue represents advances for federal programs that exceed recorded
Commission expenditures. Because of subsequent program adjustments, these amounts may differ from the
prior year’s ending balances. 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.
The Commission has not elected to charge a de minimis rate of 10% of modified total costs, as it has a different
approved rate.
Title: Note 3: Oversight Agencies
Accounting Policies: Expenditures in the schedule are presented in accordance with the full accrual basis of accounting and are
generally in agreement with expenditures reported in the Commission’s 2024 financial statements. Accrued
revenue at year-end consists of federal program expenditures scheduled for reimbursement to the Commission
in the succeeding year while unearned revenue represents advances for federal programs that exceed recorded
Commission expenditures. Because of subsequent program adjustments, these amounts may differ from the
prior year’s ending balances. 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: N/A
The federal oversight agencies for the Commission are as follows:
Federal - Federal Highway Administration
Federal - Department of the Treasury
Federal - Economic Development Administration
Title: Note 4: Pass Through Entities
Accounting Policies: Expenditures in the schedule are presented in accordance with the full accrual basis of accounting and are
generally in agreement with expenditures reported in the Commission’s 2024 financial statements. Accrued
revenue at year-end consists of federal program expenditures scheduled for reimbursement to the Commission
in the succeeding year while unearned revenue represents advances for federal programs that exceed recorded
Commission expenditures. Because of subsequent program adjustments, these amounts may differ from the
prior year’s ending balances. 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: N/A
Federal awards have been passed through the following entities:
WI DOT - Wisconsin Department of Transportation
WI DNR - Wisconsin Department of Natural Resources
Title: Note 5: Federal Revolving Loan Funds and Loans Outstanding
Accounting Policies: Expenditures in the schedule are presented in accordance with the full accrual basis of accounting and are
generally in agreement with expenditures reported in the Commission’s 2024 financial statements. Accrued
revenue at year-end consists of federal program expenditures scheduled for reimbursement to the Commission
in the succeeding year while unearned revenue represents advances for federal programs that exceed recorded
Commission expenditures. Because of subsequent program adjustments, these amounts may differ from the
prior year’s ending balances. 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: N/A
Federal activity from the U.S Department of Commerce (Assistance Listing #11.307) represents the federal share
of the revolving loan fund balances loaned to third parties and cash and investment balances and administrative
expenses paid in the revolving loan Fund at year-end as required by the compliance supplement. Total expenditures
at December 31, 2024 were calculated as follows:
RLF #2: Southwestern Wisconsin Regional Planning Commission-47134WI
Balance of RLF principal outstanding on loans at December 31, 2024 $ 435,849
Cash and investment balance in the RLF at December 31,2024 8 4,901
Administrative expenses for the year ended December 31, 2024 -
RLF income added to capital base at December 31, 2024 4 1,874
Loan losses in the year ended December 31, 2024 -
562,624
Federal Share (100%) $ 562,624
RLF #3: Southwestern Wisconsin Regional Planning Commission-47461WI
Balance of RLF principal outstanding on loans at December 31, 2024 $ 827,932
Cash and investment balance in the RLF at December 31,2024 265,885
Administrative expenses for the year ended December 31, 2024 -
RLF income added to capital base at December 31, 2024 -
Loan losses in the year ended December 31, 2024 -
1,093,817
Federal Share (80%) $ 875,053