Title: Note 3: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance includes the federal and state award activity of the School District of Siren under programs of the federal and state governments for the year ended June 30, 2021. The information in these Schedules 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 of Federal Awards (Uniform Guidance) and the Wisconsin Public School District Audit Manual. Because the Schedules presents only a selected portion of the operations of the School District of Siren, they are not intended to and does not present the financial position, changes in net position, or cash flows of the School District of Siren.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedules are reported in accordance with accounting principles generally accepted in the United States of America. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 4 - Food Distribution
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance includes the federal and state award activity of the School District of Siren under programs of the federal and state governments for the year ended June 30, 2021. The information in these Schedules 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 of Federal Awards (Uniform Guidance) and the Wisconsin Public School District Audit Manual. Because the Schedules presents only a selected portion of the operations of the School District of Siren, they are not intended to and does not present the financial position, changes in net position, or cash flows of the School District of Siren.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in the schedule of expenditures of federal awards at the fair market value of the commodities received and disbursed, $23,785. At June 30, 2022, the District had an immaterial amount of food commodities in inventory.
Title: Note 5 - Medical Assistance
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance includes the federal and state award activity of the School District of Siren under programs of the federal and state governments for the year ended June 30, 2021. The information in these Schedules 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 of Federal Awards (Uniform Guidance) and the Wisconsin Public School District Audit Manual. Because the Schedules presents only a selected portion of the operations of the School District of Siren, they are not intended to and does not present the financial position, changes in net position, or cash flows of the School District of Siren.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures presented for Medicaid School Based Services (SBS) Benefit represent only the federal funds for the program that the District receives from the Wisconsin Department of Health Services (DHS). District records should be consulted to determine the total amount expended for this program.
Title: Note 6 - Federal Awards to Sub-Receipients
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance includes the federal and state award activity of the School District of Siren under programs of the federal and state governments for the year ended June 30, 2021. The information in these Schedules 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 of Federal Awards (Uniform Guidance) and the Wisconsin Public School District Audit Manual. Because the Schedules presents only a selected portion of the operations of the School District of Siren, they are not intended to and does not present the financial position, changes in net position, or cash flows of the School District of Siren.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District did not pass through any federal awards to sub-recipients in the current year.
Title: Note 7 - Special Education and School Aged Parents Program
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance includes the federal and state award activity of the School District of Siren under programs of the federal and state governments for the year ended June 30, 2021. The information in these Schedules 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 of Federal Awards (Uniform Guidance) and the Wisconsin Public School District Audit Manual. Because the Schedules presents only a selected portion of the operations of the School District of Siren, they are not intended to and does not present the financial position, changes in net position, or cash flows of the School District of Siren.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
2021 2022 eligible costs under the State Special Education Program are $707,863.
Title: Note 8 - Oversight Agencies
Accounting Policies: The accompanying schedules of expenditures of federal awards and state financial assistance includes the federal and state award activity of the School District of Siren under programs of the federal and state governments for the year ended June 30, 2021. The information in these Schedules 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 of Federal Awards (Uniform Guidance) and the Wisconsin Public School District Audit Manual. Because the Schedules presents only a selected portion of the operations of the School District of Siren, they are not intended to and does not present the financial position, changes in net position, or cash flows of the School District of Siren.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Districts federal oversight agency is the U.S. Department of Education. The Districts state cognizant agency is the Wisconsin Department of Public Instruction.