Audit 49231

Title: Subrecipient Awards Accounting Policies: The accompanying schedules of expenditures of federal and state awards (the "Schedules") include the federal and stateaward activity of the District under programs of the federal and state government for the year ended June 30, 2022. Theinformation in these Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and State SingleAudit Guidelines, issued by the Wisconsin Department of Administration. Because the Schedules present only a selectedportion of the operations of the District, it is not intended to, and does not, present the financial position, changes in netposition, or cash flows of Nicolet Area Technical College District. Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable orlimited as to reimbursement. Negative amounts shown on the Schedules represent adjustments or credits made in thenormal course of business to amounts reported as expenditures in prior years. De Minimis Rate Used: N Rate Explanation: The District has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance. The District does not have subrecipients of its federal or state awards.