Notes to SEFA
Accounting Policies: THE SEFA PRESENTS THE ACTIVITY OF ALL FEDERAL AWARD PROGRAMS OF FRANKLIN PARK SD 84. THE DISTRICT'S REPORTING ENTITY IS DEFINED IN NOTE 1 TO THE DISTRICT'S FINANCIAL STATEMENTS. FEDERAL AWARDS PASSED THROUGH OTHER GOVERNMENT AGENCIES ARE INCLUDED ON THE SCHEDULE. THE SEFA IS PRESENTED USING THE CASH BASIS OF ACCOUNTING, WHICH IS DESCRIBED IN NOTE 1 TO THE DISTRICT'S FINANCIAL STATEMENTS. FEDERAL AWARDS RECEIVED ARE REFLECTED IN THE DISTRICT'S FINANCIAL STATEMENTS WITHIN THE GENERAL (EDUCATION) FUND AS RECEIPTS FROM FEDERAL SOURCES. AMOUNTS REPORTED IN THE SEFA AGREE WITH AMOUNTS REPORTED IN PROGRAM FINANCIAL REPORTS FOR PROGRAMS WHICH HAVE FILED FINAL REPORTS AS OF JUNE 30, 2024 WITH THE ILLINOIS STATE BOARD OF EDUCATION.
De Minimis Rate Used: N
Rate Explanation: N/A