Notes to SEFA
Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedules are reported on the modified accrual basis of accounting. Suchexpenditures are recognized following, as applicable, the cost principles contained in Uniform Guidance andWisconsin State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Accrued revenue at year-end consists of federal and state program expenditures scheduled forreimbursement to the District in the succeeding year while unearned revenue represents advances for federal andstate programs that exceed recorded District expenditures.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedules of expenditures of federal and state awards (the Schedules) includes the federal and state award activity of the District under programs of the federal and state government for the year ended June 30, 2022. The information in this 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), the Wisconsin State Single Audit Guide and other applicable guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements. All federal and state awards received directly from federal and state agencies as well as federal and state financial awards passed through other government agencies are included on the schedule.