Notes to SEFA
Title: NOTE 2 - Summary of Significant Accounting Policies
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grantactivity of the Reaching Across Illinois Library System (RAILS) under programs of the federalgovernment for the year ended June 30, 2022. The information in this Schedule is presented in accordancewith the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-ProfitOrganizations. Because the Schedule presents only a selected portion of the operations of RAILS, it is notintended to and does not present the financial position, changes in net position, or cash flows of RAILS.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpendituresExpenditures reported on the Schedule are reported on the accrual basis of accounting.Pass-Through EntitiesPass-through entity identifying numbers are presented on the Schedule where available.
Title: NOTE 4 - Subrecipient Relationships
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grantactivity of the Reaching Across Illinois Library System (RAILS) under programs of the federalgovernment for the year ended June 30, 2022. The information in this Schedule is presented in accordancewith the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-ProfitOrganizations. Because the Schedule presents only a selected portion of the operations of RAILS, it is notintended to and does not present the financial position, changes in net position, or cash flows of RAILS.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
NOTE 4 SUBRECIPIENT RELATIONSHIPSRAILS did not remit any funds to subrecipients.