Notes to SEFA
Title: Note 1—Basis of presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: Y
Rate Explanation: The District has elected to use the 10% de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award grant activity of Orland Fire Protection District, Illinois (the “District”) under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Therefore, some amounts presented in this Schedule differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: Note 4—Loans or loan guarantees
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: Y
Rate Explanation: The District has elected to use the 10% de minimis cost rate.
During the year ended December 31, 2023, the District received no loans, loan guarantees, or other federal assistance for the purpose of administering federal programs.