Notes to SEFA
Title: Note 3:Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of DeSoto Cons SD 86 and is presented on the regulatory basis of accounting based on financial reporting provisions of the Illinois State Board of Education, which is a basis of accounting other than accounting principles generally accepted in the United States of America. 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: Cost rate determined from AFR. Restricted rate 6.33%. Unrestriced rate 17.94%.
Of the federal expenditures presented in the schedule, DeSoto Cons SD 86 provided federal awards to subrecipients as follows: None
Title: Note 4: Non-Cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of DeSoto Cons SD 86 and is presented on the regulatory basis of accounting based on financial reporting provisions of the Illinois State Board of Education, which is a basis of accounting other than accounting principles generally accepted in the United States of America. 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: Cost rate determined from AFR. Restricted rate 6.33%. Unrestriced rate 17.94%.
The following amounts were expended in the form of non-cash assistance by DeSoto Cons SD 86 and should be included in the Schedule of Expenditures of Federal Awards: Non-Cash Commodities (AL 10.555) $1,938 and Other Non-Cash Assistance Dept of Defense Fruits & Vegetables $7,370.
Title: Note 5: Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of DeSoto Cons SD 86 and is presented on the regulatory basis of accounting based on financial reporting provisions of the Illinois State Board of Education, which is a basis of accounting other than accounting principles generally accepted in the United States of America. 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: Cost rate determined from AFR. Restricted rate 6.33%. Unrestriced rate 17.94%.
Insurance Coverage in effect paid with Federal funds during the fiscal year: None. Loans/Guarantess Outstanding at June 30 $0. District had Federal grants requiring matching expenditures: No.