Notes to SEFA
Accounting Policies: The schedule includes the federal grant activity of Southern Will County Cooperative for Special Education and is presenteed using the cash basis of accounting under guidelines prescribed by the Illinois State Board of Education. The information in this shcedule is presented in accordance with the requirements of Uniform Guidance, Audit of States, Local Governments, and Non-profit Organizations. Accordingly, revenues are recognized and recorded in the accounts when cash is received. In the same manner, expenditures are recognized and recorded upon the disbursement of cash.
De Minimis Rate Used: N
Rate Explanation: The Cooperative for Special Education did not elect to use the de minimis cost rate of 10%.