Audit 352698

Title: Note 1 – Basis of Presentation Accounting Policies: The expenditures included in the Schedules are reported for the Village’s fiscal year ended April 30, 2023. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported represent funds which have been expended by the Village for the purposes of the awards. De Minimis Rate Used: N Rate Explanation: n/a The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Village of Franklin Park, Illinois (the “Village”) under programs of the federal government for the year ended April 30, 2023. 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Village, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Village.

Title: Note 2 – Summary of Significant Accounting Policies Accounting Policies: The expenditures included in the Schedules are reported for the Village’s fiscal year ended April 30, 2023. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported represent funds which have been expended by the Village for the purposes of the awards. De Minimis Rate Used: N Rate Explanation: n/a The expenditures included in the Schedules are reported for the Village’s fiscal year ended April 30, 2023. Expenditure reports to funding agencies are prepared on the award period basis. The expenditures reported represent funds which have been expended by the Village for the purposes of the awards. The expenditures reported above may not have been reimbursed by the funding agencies as of the end of the fiscal year. Some amounts reported in the Schedules may differ from amounts used in the preparation of the basic financial statements. Separate accounts are maintained for the different awards to aid in the observance of limitations and restrictions imposed by the funding agencies. The Village has followed all applicable guidelines issued by various funding agencies in the preparation of the Schedules. The Village has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs, as allowed under the Uniform Guidance.