Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Bond County, Illinois under programs of the federal government for the year ended November 30, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of operations of the County, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the County. Federal awards passed through other governmental agencies are included in the schedule.
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
Bond County has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
Nonmonetary assistance is reported in the schedule at the fair market value of the vaccinations received and distributed. For the year ended November 30, 2024, the fair market value totaled $94,779.
The County purchases commercial general liability, workers' compensation and property insurance to cover all risks. The County does not have any insurance provided by federal sources.
The County has no federal loans or loan guarantees outstanding as of November 30, 2024
Bond County Provided federal awards Bond County Senior Center under grant 20.509 in the amount of $36,908