Notes to SEFA
Title: Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The County has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The County has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
Title: Sec 18 Rural Public Transportation Operating and Administrative Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The County has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The Coles County Council on Aging, Inc. administers this grant. The County’s revenues for the year ending November 30, 2024 of $220,874 and subsequent reimbursement to Coles County Council on Aging, Inc. are reported in the Public Transportation Grant Fund, a special revenue fund. Grant records are maintained on a different fiscal year from the County. Following is a detail of the grant and matching funds for its year of July 1, 2023 to June 30, 2024.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The County has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Coles County provided federal awards to subrecipient Coles County Council on Aging, Inc. The program was the Sec. 18 Rural Public Transportation Operating and Administrative Assistance, Federal Assistance Listing number 20.509 in the amount of $220,874.
Title: Federal Loans
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The County has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Coles County had no federal loans or loan guarantees outstanding at year end.
Title: Insurance in Force
Accounting Policies: The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The County has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The County is a member of Counties of Illinois Risk Management Agency and had the following insurance coverage for the period December 1, 2023 – December 1, 2024: