Title: Relationship to Financial Statements
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Career Center of Southern Illinois and is presented on the 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 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 Center elected not to utilize the de minimis indirect cost rate.
Federal awards received are reflected in the Center's financial statements within the Educational Fund.
Title: Relationship to Program Financial Reports
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Career Center of Southern Illinois and is presented on the 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 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 Center elected not to utilize the de minimis indirect cost rate.
Amounts reported in the accompanying Schedule of Federal Awards agree with amounts reported in the Program Financial Reports for programs which have filed final reports as of June 30, 2024, with the Illinois State Board of Education.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Career Center of Southern Illinois and is presented on the 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 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 Center elected not to utilize the de minimis indirect cost rate.
No amounts included in the Schedule of Expenditures of Federal Awards were provided to subrecipients.
Title: Loan and Loan Guarantee Programs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Career Center of Southern Illinois and is presented on the 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 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 Center elected not to utilize the de minimis indirect cost rate.
The Center did not participate in any loan or loan guarantee programs in relation to the Schedule of Expenditures of Federal Awards; hence, no amounts were outstanding at year-end.
Title: Insurance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Career Center of Southern Illinois and is presented on the 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 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 Center elected not to utilize the de minimis indirect cost rate.
The Center did not participate in any federally funded insurance programs.