Notes to SEFA
Title: OTHER INFORMATION
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Waterloo Community Unit School District #5 and is presented on the modified cash basis. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget 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 Basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
THERE WAS NO INSURANCE COVERAGE IN EFFECT PAID WITH FEDERAL FUNDS DURING THE FISCAL YEAR. THERE WERE NO LOANS/LOAN GUARANTEES OUTSTANDING AT JUNE 30. THE DISTRICT HAS NO FEDERAL GRANT REQUIRING MATCHING EXPENDITURES.
Title: NON CASH ASSISTANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Waterloo Community Unit School District #5 and is presented on the modified cash basis. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget 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 Basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following amounts were expended in the form of non-cash assistance by Waterloo Community Unit School District #5 and should be included in the Schedule of Expenditures of Federal Awards: NON-CASH COMMODITIES (CFDA 10.555) 135,830
Title: SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Waterloo Community Unit School District #5 and is presented on the modified cash basis. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget 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 Basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
THE DISTRICT DID NOT PROVIDE FEDERAL AWARDS TO ANY SUBRECIPIENTS