Notes to SEFA
Title: Note 3: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Bourbonnais Elementary School District No. 53 and is presented on the 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% cost rate
Of the federal expenditures presented in the schedule, Bourbonnais Elementary School District No. 53 provided federal awards to subrecipients as follows: None
Title: Note 4: Non-Cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Bourbonnais Elementary School District No. 53 and is presented on the 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% cost rate
The following amounts were expended in the form of non-cash assistance by Bourbonnais Elementary School District No. 53 and should be included in the Schedule of Expenditures of Federal Awards: Non-Cash Commodities (ALN 10.555): $48,119 Other Non-Cash Assistance - Dept of Defense Fruits & Vegetables: $9,992 Total Non-cash: $58,111
Title: Note 5: Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of Bourbonnais Elementary School District No. 53 and is presented on the 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% cost rate
Insurance coverage in effect paid with Federal funds during the fiscal year: Property $0 Auto $0 General Liability $0 Workers Compensation $0 Loans/Loan Guarantees Outstanding at June 30; $0 District had Federal grants requiring matching expenditures: No