Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of the City of Berwyn, Illinois (“City”). The City’s reporting entity is defined in Note 1 to the City’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 City’s financial statements. Expenditures are recognized following the cost principles contained in the Uniform Guidance.
The City did not receive non-cash assistance or have Federal insurance in effect during the fiscal year.
The City had $1,778,553 in single family rehabilitation loans outstanding at year end.
The City has elected to use the 10% de minimis indirect costs rate as allowed under the Uniform Guidance.