Notes to SEFA
Title: Reconciliation
Accounting Policies: The accompanying schedules of expenditures of federal and state awards include the federal and state award activity of the District under programs of the federal and state government for the year ended June 30, 2022. 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 and State Single Audit Guidelines, issued by the Wisconsin Department of Administration. Because the schedules present only a selected portion of the operations of the District, it is not intended to, and does not, present the financial position, changes in net position, or cash flows of the District. Expenditures reported on the schedules are reported on the accrual basis of accounting. 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 schedules represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal: Revenue per statement of revenues, expenses, and changes in net position Federal grants ($8,847,172) plus Nonoperating revenues - CARES Act funding ($6,457,087) for a total of $15,304,259. State: Revenues per statement of revenues, expenses and changes in net position: Nonoperating revenues - state nonoperating appropriations ($32,146,688) plus Operating revenues - state grants ($690,918), fire fighter training 2% ($55,871), Higher Education Aids Board assistance (excludes ID#235.105) ($878,999) for a total of $33,772,476.