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 the 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 subsequent 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 state and federal awards (the Schedules) includes the federal andstate 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 ofFederal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance) and the Wisconsin State Single Audit Guidelines. Therefore, some amountspresented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financialstatements. Because the schedules present only a selected portion of the operations of the District, it is not intendedto and does not present the net financial position, changes in fund balance or cash flows of the District. All federaland state awards received directly from federal and state agencies as well as federal and state financial awardspassed through other government agencies are included on the schedule.
Title: 4. Noncash awards
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 the 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 subsequent 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 federal donated commodities in the Child Nutrition Cluster are administered by the U.S. Department ofAgriculture and passed through the Wisconsin Department of Public Instruction and transactions relating to thisprogram are included in the Districts basic financial statements. Commodities received during the year are includedin the expenditures presented in the Schedule. There are no balances outstanding as of June 30, 2022.