Notes to SEFA
The accompanying schedules of expenditures of federal awards include the federal grant activity of the City of Shawano under programs of the federal government for the year ended December 31, 2025. The information in these schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedules present only a select portion of operations of the City, they are not intended to, and do not, present the financial position and change in net position of the City.
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, 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 agency is the Department of Treasury.