Notes to SEFA
Title: NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: MODIFIED CASH BASIS
De Minimis Rate Used: Y
Rate Explanation: ILLINOIS PRINCIPALS HAS ELECTED TO SUE THE TEN PERCENT DE-MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
BASIS OF ACCOUNTING - MODIFIED CASH BASIS
Title: NOTE 2 ADDITIONAL INFORMATION
Accounting Policies: MODIFIED CASH BASIS
De Minimis Rate Used: Y
Rate Explanation: ILLINOIS PRINCIPALS HAS ELECTED TO SUE THE TEN PERCENT DE-MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
OTHER FEDERAL ASSISTANCE - IPA DID NOT RECEIVE ANY NONCASH FEDERAL ASSISTANCE, FEDERAL INSURANCE, OR FEDERAL LOANS OR GUARANTEES.
Title: NOTE 2 ADDITIONAL INFORMATION
Accounting Policies: MODIFIED CASH BASIS
De Minimis Rate Used: Y
Rate Explanation: ILLINOIS PRINCIPALS HAS ELECTED TO SUE THE TEN PERCENT DE-MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
SUB-RECIPIENT GRANTS - IPA DID NOT PASS THROUGH FEDERAL FUNDS TO SUB-RECIPIENTS.
Title: NOTE 3 INDIRECT COST RATE
Accounting Policies: MODIFIED CASH BASIS
De Minimis Rate Used: Y
Rate Explanation: ILLINOIS PRINCIPALS HAS ELECTED TO SUE THE TEN PERCENT DE-MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
IPA HAS ELECTED TO USE THE 10 PERCENT DE-MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.