Notes to SEFA
Title: Expenses
Accounting Policies: This statement is prepared using the same basis of accounting as the District'sfinancial statements. The District uses the accrual basis of accounting. Expendituresrepresent only the federally funded portions of the program. District recordsshould be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amount shown as current year expenses represent the federal grant portion of the grant program costs that are aided by the grant. Entire program costs including other local revenues may be more than shown.
Title: Commodities
Accounting Policies: This statement is prepared using the same basis of accounting as the District'sfinancial statements. The District uses the accrual basis of accounting. Expendituresrepresent only the federally funded portions of the program. District recordsshould be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amount of commodities reported on the schedule is the value of commodities receivedby the District in the current year and are priced as prescribed by the WisconsinDepartment of Public Instruction.
Title: Subrecipients
Accounting Policies: This statement is prepared using the same basis of accounting as the District'sfinancial statements. The District uses the accrual basis of accounting. Expendituresrepresent only the federally funded portions of the program. District recordsshould be consulted to determine amounts expended or matched from non-federal sources.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There are no subrecipients.