Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes all Congressionally Mandated Projects awards from the U.S. Environmental Protection Agency for the year ended May 31, 2026. The information in the 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). Because the Schedule presents only a selected portion of the operations of the Village of Mayville (Village), it is not intended to and does not present the financial position, results of operations, or cash flows of the Village.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. 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.
The Village has elected not to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance.