Notes to SEFA
Title: Note 3: Description of Major Program
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the City of OFallon, Illinois under programs of the federal government for the year ended April 30, 2022. The information in this schedule is presented in accordance with 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 the City, it is not intended to and does not present the financial position, changes in net position or cash flows of the City. It is a summary of the activity of the Citys federal award programs prepared on the accrual basis of accounting. Accordingly, expenditures are recognized when the liability has been incurred and revenues are recognized when the qualifying expenditure has been incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There was one major program for the year ended April 30, 2022, the Coronavirus State and Local Fiscal Recovery Funds. This grant was awarded by the United States Department of Treasury to the City of OFallon, Illinois for the purposes of financial support of the City and local businesses in the area.
Title: Note 4: Additional Information
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the City of OFallon, Illinois under programs of the federal government for the year ended April 30, 2022. The information in this schedule is presented in accordance with 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 the City, it is not intended to and does not present the financial position, changes in net position or cash flows of the City. It is a summary of the activity of the Citys federal award programs prepared on the accrual basis of accounting. Accordingly, expenditures are recognized when the liability has been incurred and revenues are recognized when the qualifying expenditure has been incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
As of and during the year ended April 30, 2022, the City did not receive any federal insurance, federal loans or loan guarantees, or federal noncash assistance. In addition, the City did not pass through any federal awards to sub-recipients.