Audit 55760

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the Guide, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: Wisconsin Literacy, Inc. has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) includes the federal and state grant award activity of Wisconsin Literacy, Inc. under programs of the federal government and state agencies for the year ending June 30, 2022. The information in this Schedule 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 (Uniform Guidance), and the Provider Agency Audit Guide, 2021 revision (the Guide), issued by the Wisconsin Department of Children and Families. Because the Schedule presents only a selected portion of the operations of Wisconsin Literacy, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Wisconsin Literacy, Inc.