Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Joliet, Illinois (City) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of 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 City’s financial statements.
The City did not have any federal insurance in effect during the year. Loans Payable - Illinois EPA The City had twenty-four loans payable to the Illinois Environmental Protection Agency (IEPA) from the City’s Water and Sewer Fund as of December 31, 2024. The loans were made from the IEPA Revolving Fund which has been funded with both federal and state of Illinois monies. Loan drawdowns in 2024 totaled $41,552,454 of which $17,717,139 was federally funded; the remainder was state of Illinois funded. Loans Payable – Water Infrastructure Finance and Innovation (WIFIA) The City had two loans payable to the United States Environmental Protection Agency (EPA) from the City’s Water and Sewer Fund as of December 31, 2024. The City received funding through the Water Infrastructure Finance and Innovation Act (WIFIA) Program administered by the U.S. Environmental Protection Agency. Loan proceeds of $55,115,000 were drawn down in a prior year but were not expended on eligible project costs until the current fiscal year.
The City did not elect to use the 10% de minimis cost rate as covered in Uniform Guidance § 200.414 Indirect Facilities and Administration Costs.
The City will receive and has received property in the form of road/bridge construction projects through the resources provided by the U.S. Department of Transportation. There were two construction projects as listed in the schedule of expenditures of federal awards under CFDA number 20.205, for which the City has recorded federal expenditures related to engineering costs for the construction performed by the state of Illinois with the use of federal funding. The City is the beneficiary of the construction projects upon completion.