Notes to SEFA
Title: Note 3 Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Desoto CCSD 86 and is presented on the regulatory basis of accounting based on financial reporting provisions of the Illinois State Board of Education, which is a basis of accounting other than accounting principles generally accepted in the United States of America. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budge Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basis financial statements.
De Minimis Rate Used: N
Rate Explanation: The School District uses restricted rate/unrestricted rate calculated from the annual financial report filed with the Illinois State Board of Education.
Of the federal expenditures presented in the schedule, DeSoto CCSD 86 provided no federal awards to subrecipients.
Title: Note 4 Non-Cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Desoto CCSD 86 and is presented on the regulatory basis of accounting based on financial reporting provisions of the Illinois State Board of Education, which is a basis of accounting other than accounting principles generally accepted in the United States of America. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budge Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basis financial statements.
De Minimis Rate Used: N
Rate Explanation: The School District uses restricted rate/unrestricted rate calculated from the annual financial report filed with the Illinois State Board of Education.
The following amounts were expended in the form of non-cash assistance by DeSoto CCSD 86 and should be included in the schedule of expenditures of federal awards: Non-Cash Commodities (CFDA 10.555) $30,253, and Other Non-Cash Assistance-Dept of Defense Fruits & Vegetables $10,376. Total Non-Cash $40,629.
Title: Note 5 Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Desoto CCSD 86 and is presented on the regulatory basis of accounting based on financial reporting provisions of the Illinois State Board of Education, which is a basis of accounting other than accounting principles generally accepted in the United States of America. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budge Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basis financial statements.
De Minimis Rate Used: N
Rate Explanation: The School District uses restricted rate/unrestricted rate calculated from the annual financial report filed with the Illinois State Board of Education.
Insurance coverage in effect paid with federal funds during the fiscal year was $0. There were no loans/loan guarantess outstanding as of June 30, 2023. The District had federal grants requiring matching expenditures of $0.