Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of City of Monmouth, Illinois under programs of the federal government for the year ended April 30, 2025. The information in this schedule is presented in accordance with requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. The City elected not to use the 10% de minimis indirect cost rate during the year ended April 30, 2025.
Expenditures reported on the Schedule are reported on the 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 as to reimbursement. Pass-through entity identifying numbers are presented where available.
Of the federal expenditures presented in the Schedule of Expenditures of Federal Awards, the City did not expend any federal awards in the form of non-cash assistance during the year ended April 30, 2025.
City of Monmouth, Illinois did not receive or administer any insurance, loans or loan guarantees during the fiscal year ended April 30, 2025.