Notes to SEFA
Accounting Policies: Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards includes the federal grantactivity of Herscher Community Unit School District #2 and is presented on the regulatory(modified cash) basis of accounting. The information in this schedule is presented in accordancewith the requirements of the Uniform Guidance. Some amounts presented in this schedulediffered from amounts presented in, or used in the preparation of, the basic financial statements.Reconciliation of Schedule of Expenditures of Federal Awards to Basic Financial StatementsRevenues per Schedule of Expenditures of Federal Awards $ Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant
activity of Herscher Community Unit School District #2 and is presented on the regulatory
(modified cash) basis of accounting. The information in this schedule is presented in accordance
with the requirements of the Uniform Guidance. Some amounts presented in this schedule
differed from amounts presented in, or used in the preparation of, the basic financial statements.
Reconciliation of Schedule of Expenditures of Federal Awards to Basic Financial Statements
Revenues per Schedule of Expenditures of Federal Awards $ 1,394,113
Add - Medicaid Fees-For-Services Program 51,053
Add - Revenues per Audit Report Included on Prior-Year
Schedule of Expenditures of Federal Awards 565,974
Less - Values of Commodities ( 29,400)
Total Federal Revenues per Basic Financial Statements $ 1,981,740
Subrecipients, Insurance, and Loans
Of the federal expenditures presented in the schedule, the District did not provide any federal
awards to subrecipients. The District did not have any federal insurance in effect during the year
and did not have any federal loans or loan guarantees outstanding at year end.
De Minimis Cost Rate
The District did not elect to use the 10% de minimis cost rate as covered in Uniform Guidance §
200.414 Indirect Facilities and Administration Costs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.