Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance (the “Schedules”) include the federal and state award activity of the Plymouth Joint School District under programs of the federal and state government for the year ended June 30, 2025. 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 for Federal Awards (Uniform Guidance) and the requirements of the Wisconsin State Single Audit Guidelines. Because the Schedules present only a selected portion of the operations of the Plymouth Joint School District, they are not intended to and do not present the financial position or changes in net position of the Plymouth Joint School District.
Expenditures reported on the Schedules are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and as applicable, the cost principles contained in the Wisconsin State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The District has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the schedule of expenditures of federal awards at the fair market value of the commodities received. Commodities received during the year that are included in the federal expenditures are valued by the federal agency.
The District's federal oversight agency for the audit is the U.S. Department of Education and the state oversight agency is the Wisconsin Department of Public Instruction.