Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the Village of Bensenville, Illinois (“Village”). The Village’s reporting entity is defined in Note 1 to the Village’s financial statements.
The accompanying Schedule of Expenditures of Federal Awards 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).
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Village’s financial statements. Expenditures are recognized following the cost principles contained in the Uniform Guidance.
The Village did not receive non-cash assistance or have Federal insurance in effect during the fiscal year.
The Village has elected to use the 15% de minimis indirect costs rate as allowed under the Uniform Guidance.