Notes to SEFA
Title: Relationship to Accompanying Financial Statements
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of AgeSmart Community Resources 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. See reporting package for detailed notes to SEFA.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
Federal Awards received are reflected in the Organization's accompanying financial statements within the categories of Federal Title III Programs, Federal-Other Older American's Act Program and NSIP.
Title: Relationship to Program Financial Statements
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of AgeSmart Community Resources 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. See reporting package for detailed notes to SEFA.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The amounts included in the Schedule of Expenditures of Federal Awards may not fully agree with other federal award reports submitted to federal granting agencies since the award reports may be prepared for a different fiscal period or include cumulative data rather than data for the current year only.
Title: Matching Revenues
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of AgeSmart Community Resources 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. See reporting package for detailed notes to SEFA.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
For those funds that have matching revenues and state funding, federal expenditures were determined by deducting matching revenues from total expenditures.
Title: Subrecipients
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of AgeSmart Community Resources 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. See reporting package for detailed notes to SEFA.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The Organization passes certain federal awards received from the Illinois Department on Aging and the Illinois HHS to other governments or not-for-profit agencies (subrecipients). As a subrecipient, the Organization has certain compliance responsibilities, such as monitoring its subrecipients to help assure they use these subawards as authorized by laws, regulations, and the provisions of contracts or grant agreements, and that subrecipients achieve the award's performance goals.