Notes to SEFA
Title: Note 3: Subrecipients
Accounting Policies: Basis of Accounting: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Mundelein Consolidated High School District 120 and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost of Principles, and Audit Requirement 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.
Of the federal expenditures presented in the schedule, Mundelein Consolidated High School District 120 provided $40,942 federal awards to subrecipients.
Title: Note 4: Non-Cash Assistance
Accounting Policies: Basis of Accounting: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Mundelein Consolidated High School District 120 and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost of Principles, and Audit Requirement 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 Mundelein Consolidated High School District 120 and should be included in the Schedule of Expenditures of Federal Awards: Other Non-Cash Assistance - Dept. of Defense Fruits & Vegetables - $18,409. Total Non-Cash Assistance - $18,409.
Title: Note 5: Other Information
Accounting Policies: Basis of Accounting: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Mundelein Consolidated High School District 120 and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost of Principles, and Audit Requirement 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.
Mundelein Consolidated High School District 120 did not have any insurance coverage in effect that was paid with Federal funds during the fiscal year. Mundelein Consolidated High School District 120 had no loans/loan guarantees outstanding at June 30, 2022. Mundelein Consolidated High School District 120 had no Federal grants requiring matching expenditures.