Notes to SEFA
Title: Note 3 - Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of North Palos Elementary School District #117 and is
presented on the modified cash 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 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: The Auditee did not elect to use the 10% de minimums indirect cost rate.
Of the federal expenditures presented in the schedule, North Palos School District #117 provided $0 federal awards to subrecipients.
Title: Note 4 - Non-Cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of North Palos Elementary School District #117 and is
presented on the modified cash 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 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: The Auditee did not elect to use the 10% de minimums indirect cost rate.
North Palos School District #117 expended $89,733 in the form of non-cash assistance and should be included in the Schedule of Expenditures of Federal Awards.
Title: Note 5 - Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of North Palos Elementary School District #117 and is
presented on the modified cash 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 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: The Auditee did not elect to use the 10% de minimums indirect cost rate.
No Insurance coverage in effect was paid with Federal funds during the fiscal year. No Loans/Loan Guarantees Outstanding at June 30 and the District did not have Federal grants requiring matching expenditures.