Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and
are generally in agreement with expenditures reported in the City’s 2024 fund financial statements. Accounts
receivable at year-end consists of federal and state program expenditures scheduled for reimbursement to
the City in the succeeding year while unearned revenue represents advances for federal and state programs
that exceed recorded City 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 and State Single Audit Guidelines, 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 schedules of expenditures of federal awards and state awards for the City are 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) and the State Single Audit Guidelines issued by the Wisconsin Department of Administration.
The schedules of expenditures of federal awards and state awards include all federal and state awards of the
City. Because the schedules present only a selected portion of the operations of the City, they are not
intended to and do not present the financial position, changes in net position, or cash flows of the City.
Title: Significant Accounting Policies
Accounting Policies: Expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and
are generally in agreement with expenditures reported in the City’s 2024 fund financial statements. Accounts
receivable at year-end consists of federal and state program expenditures scheduled for reimbursement to
the City in the succeeding year while unearned revenue represents advances for federal and state programs
that exceed recorded City 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 and State Single Audit Guidelines, 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 schedules are presented in accordance with the modified accrual basis of accounting and
are generally in agreement with expenditures reported in the City’s 2024 fund financial statements. Accounts
receivable at year-end consists of federal and state program expenditures scheduled for reimbursement to
the City in the succeeding year while unearned revenue represents advances for federal and state programs
that exceed recorded City 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 and State Single Audit Guidelines, wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
The City has not elected to charge a de minimis rate of 10% of modified total costs.
Title: Oversight Agencies
Accounting Policies: Expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and
are generally in agreement with expenditures reported in the City’s 2024 fund financial statements. Accounts
receivable at year-end consists of federal and state program expenditures scheduled for reimbursement to
the City in the succeeding year while unearned revenue represents advances for federal and state programs
that exceed recorded City 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 and State Single Audit Guidelines, 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 and state oversight agencies for the City are as follows:
Federal - U.S. Department of Environmental Protection Agency
State - Wisconsin Department of Transportation
Title: Indirect Cost Rate
Accounting Policies: Expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and
are generally in agreement with expenditures reported in the City’s 2024 fund financial statements. Accounts
receivable at year-end consists of federal and state program expenditures scheduled for reimbursement to
the City in the succeeding year while unearned revenue represents advances for federal and state programs
that exceed recorded City 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 and State Single Audit Guidelines, wherein certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: n/a
A nonfederal and state entity may have a federal and state negotiated indirect cost rate that is being used for
federal and state awards. In general, under 2 CFR 200.414(f), if an entity has never received a negotiated
indirect cost rate, the entity may elect to use a 10% de minimis indirect cost rate. Further, 2 CFR
200.510(b)(6) states that the notes to the schedules of expenditures of federal awards and state awards must
include whether or not the nonfederal and state entity has elected to use the 10% de minimis indirect cost
rate. The City has elected not to use the 10% de minimis indirect cost rate.