Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance includes the federal and state grant activity of the City of Marinette for the year ended December 31, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State Single Audit Guidelines. Because the schedules present only a selected portion of the operations of the City of Marinette, they are not intended to and do not present the financial position, changes in net position, or cash flows of the City of Marinette.
Revenues and expenditures in the schedules are presented in accordance with the modified accrual basis of accounting and are generally in agreement with the revenues and expenditures reported in the fund financial statements. Expenditures are recognized following the cost principles contained in the Uniform Guidance and Wisconsin State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited for reimbursement. The City has not elected to charge a de minimis rate of 15% of modified total costs.
The City’s federal oversight Custodial is the Economic Development Agency. The City’s state cognizant Custodial is the Wisconsin Department of Transportation.