Notes to SEFA
Title: NONCASH TRANSACTIONS
Accounting Policies: BASIS OF PRESENTATIONThe accompanying Schedules of Expenditures of Federal and State Awards (the Schedules) includes the federal and state grant activity of the School District under programs of the federal government and state agencies for the year ended June 30, 2022. The information in these Schedules are presented in accordance with the requirements of Uniform Guidance, Wisconsin State Single Audit Guidelines, and Audits of States, Local Governments, and Non-Profit Organizations. Because the Schedules presents only a selected portion of the operations of the School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School District.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpendituresExpenditures reported on the Schedules are reported on the accrual basis of accounting.Pass-Through EntitiesPass-through entity identifying numbers are presented on the Schedules where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Nonmonetary assistance is reported in the schedules at the fair market value of the commodities received and disbursed. At June 30, 2022, there were $118,820 of donated food commodities in the Child Nutrition Cluster passed through the Wisconsin Department of Instruction. There are no outstanding balances as of June 30, 2022.
Title: OVERSIGHT AGENCIES
Accounting Policies: BASIS OF PRESENTATIONThe accompanying Schedules of Expenditures of Federal and State Awards (the Schedules) includes the federal and state grant activity of the School District under programs of the federal government and state agencies for the year ended June 30, 2022. The information in these Schedules are presented in accordance with the requirements of Uniform Guidance, Wisconsin State Single Audit Guidelines, and Audits of States, Local Governments, and Non-Profit Organizations. Because the Schedules presents only a selected portion of the operations of the School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School District.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpendituresExpenditures reported on the Schedules are reported on the accrual basis of accounting.Pass-Through EntitiesPass-through entity identifying numbers are presented on the Schedules where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Districts federal oversight agency is the U.S. Department of Education. The Districts state cognizant agency is the Wisconsin Department of Public Instruction.
Title: ELIGIBLE COSTS FOR SPECIAL EDUCATION
Accounting Policies: BASIS OF PRESENTATIONThe accompanying Schedules of Expenditures of Federal and State Awards (the Schedules) includes the federal and state grant activity of the School District under programs of the federal government and state agencies for the year ended June 30, 2022. The information in these Schedules are presented in accordance with the requirements of Uniform Guidance, Wisconsin State Single Audit Guidelines, and Audits of States, Local Governments, and Non-Profit Organizations. Because the Schedules presents only a selected portion of the operations of the School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School District.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpendituresExpenditures reported on the Schedules are reported on the accrual basis of accounting.Pass-Through EntitiesPass-through entity identifying numbers are presented on the Schedules where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Eligible costs for special education under project 011 were $6,010,650 for the year ended June 30, 2022.