Notes to SEFA
Title: Basis of Accounting
Accounting Policies: The federal grant activity of Consolidated High School District 230 is presented on the modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards is presented using the modified
cash basis of accounting, which is described in Note 1 to the District's financial statements.
Title: Relationship to Basic Financial Statements
Accounting Policies: The federal grant activity of Consolidated High School District 230 is presented on the modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal awards received are reflected in the District's financial statements within the Educational
Account and Operations and Maintenance Account of the District's General Fund, the Transportation
Fund, and the Municipal Retirement/Social Security Fund as receipts from federal sources. Amounts
reported in the accompanying Schedule of Expenditures of Federal Awards were prepared using
amounts reported in the Program Financial Reports for programs for which the District has filed
reports as of June 30, 2023, with the Illinois State Board of Education and other grantor agencies.
Title: Subrecipients, Insurance, and Loans
Accounting Policies: The federal grant activity of Consolidated High School District 230 is presented on the modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Of the federal expenditures presented in the schedule, the District did not provide any federal awards
to subrecipients. The District did not have any federal insurance in effect during the year and did not
have any federal loans or loan guarantees outstanding at year end.
Title: De Minimis Cost Rate
Accounting Policies: The federal grant activity of Consolidated High School District 230 is presented on the modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The District did not elect to use the 10% de minimis cost rate as covered in Uniform Guidance
§200.414 Indirect Facilities and Administration Costs.