Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal, State and Local Awards (the Schedule) includes the award activity of UMOS under programs of the Federal, State and Local governments for the year ended June 30, 2022. The information in this Schedule ispresented 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). Because the Schedule presents onlya selected portion of the operations of UMOS, it is not intended to and does not present the financial position, changes in net assets, or cash flows of UMOS. 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, wherein certain types of expenditures are limited to reimbursement or grant stipulations.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
FARM LABOR HOUSING LOANS AND GRANTS (10.405) - Balances outstanding at the end of the audit period were 585128.
Title: Participant Direct Payments
Accounting Policies: The accompanying Schedule of Expenditures of Federal, State and Local Awards (the Schedule) includes the award activity of UMOS under programs of the Federal, State and Local governments for the year ended June 30, 2022. The information in this Schedule ispresented 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). Because the Schedule presents onlya selected portion of the operations of UMOS, it is not intended to and does not present the financial position, changes in net assets, or cash flows of UMOS. 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, wherein certain types of expenditures are limited to reimbursement or grant stipulations.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no direct payments made to W2 participant workers compensation by WisconsinDepartment of Children and Families on behalf of UMOS for the year ended June 30, 2022.