Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity
of Community and Economic Development Association of Cook County, Inc. ("CEDA") under programs of the
federal government for the year ended June 30, 2022. The information in this schedule is presented in
accordance with requirements of the 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 only a selected portion of the operations of CEDA, it is not intended to and does not present
the financial position, changes in net position or cash flows of CEDA.
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 not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented
where available.
De Minimis Rate Used: N
Rate Explanation: CEDA has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.