Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of South Central Illinois Mass Transit District. The Districts reporting entity is defined in Note 1 to the Districts financial statements. Federal awards passed through other government agencies are included on the schedule. Basis of Accounting - The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Districts financial statements. Relationship to Basic Financial Statements - Federal awards received are reflected in the Districts financial statements within the Statement of Revenues and Expenses as receipts from federal sources. Relationship to Program Financial Reports - Amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree with amounts reported in the Program Financial Reports for programs which have filed final reports as of June 30, 2022,with the Illinois Department of Transportation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.