Audit 326388

Title: Basis of Presentation Accounting Policies: 1. BASIS OF PRESENTATION General The accompanying schedule of expenditures of federal awards presents the activity of all federal award programs of the City of Effingham, Illinois (the City) for the year ended April 30, 2024. The information in the 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). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position or changes in net assets of the City. Basis of Accounting The City’s financial statements have been presented using accounting principles generally accepted in the United States of America. The City’s schedule of expenditures of federal awards is prepared in conformity with the same basis of accounting. De Minimis Rate Used: N Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. General The accompanying schedule of expenditures of federal awards presents the activity of all federal award programs of the City of Effingham, Illinois (the City) for the year ended April 30, 2024. The information in the 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). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position or changes in net assets of the City. Basis of Accounting The City’s financial statements have been presented using accounting principles generally accepted in the United States of America. The City’s schedule of expenditures of federal awards is prepared in conformity with the same basis of accounting.

Title: Indirect Cost Rate Accounting Policies: 1. BASIS OF PRESENTATION General The accompanying schedule of expenditures of federal awards presents the activity of all federal award programs of the City of Effingham, Illinois (the City) for the year ended April 30, 2024. The information in the 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). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position or changes in net assets of the City. Basis of Accounting The City’s financial statements have been presented using accounting principles generally accepted in the United States of America. The City’s schedule of expenditures of federal awards is prepared in conformity with the same basis of accounting. De Minimis Rate Used: N Rate Explanation: The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The City has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.